I'm starting to wonder if Iron Ore might be the new gold (and as such people start buying FMG/BHP/RIO and the rest).
The price has been very strong since the outbreak was contained in China, and surely we expect some supply-side issues in Brazil. Add to that, all countries are going to have to provide stimulus, which is often in the form of infrastructure.
Lastly, and I think this is important, the time for a ship to take our ore across to China (or to come back) is 10-15 days, which essentially means that the crew is undergoing their own 'quarantine' while working on the ship. Unlike many other goods, I don't see a significant impact to supply lines (with the caveat of a local case at loading ports).
I'm starting to wonder if Iron Ore might be the new gold (and as...
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Last
$19.55 |
Change
0.050(0.26%) |
Mkt cap ! $60.19B | |||
| Open | High | Low | Value | Volume |
| $19.98 | $20.30 | $19.51 | $184.3M | 9.305M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 2568 | $19.51 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.56 | 44282 | 3 |
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| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |