1) IO price crash is not a ploy by anyone, just a fact that steel market is in over supply and has been for a while but miners here deluded themselves that it does not affect IO price - welcome to real world.
2) Excessive production ramp up was purely speculative on part of FMG as there is no long term lock in forwards for IO like you have in Gold.
3) Selling assets does not makes sense as buyer would be taking the risk and therefore will be reflected in any lease/tonnage arrangement put back on FMG which has the effect of driving up their costs way above the cost of ownership outright.
4) Banks are nervous for good reason.
5) Baosteel knocked back equity years ago as thought the price was too high, can't see them paying a premium, more likely waiting to get it even cheaper if at all.
1) IO price crash is not a ploy by anyone, just a fact that...
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Last
$20.28 |
Change
0.880(4.54%) |
Mkt cap ! $62.61B | |||
| Open | High | Low | Value | Volume |
| $20.26 | $20.43 | $20.08 | $148.5M | 7.387M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 17 | 8519 | $20.27 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.28 | 32907 | 22 |
View Market Depth
| Last trade - 12.04pm 27/09/2024 (20 minute delay) ? |
| FMG (ASX) Chart |