BHP and RIO are in the long game same as the OPEC.
They have been pumping up their IO volumes to drive the IO prices down to such a low levels that it becomes unsustainable for high cost producers to survive.
The high cost miners will go bankrupt eventually and shut down their operations.
When this process has gone past this stage of its economic life cycle, there will be a match up in demand and supply.
Price of IO will reach a level again where BHP and RIO will once again rake in super profits for a decade.
Fair value $47.40 per share, page-144
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Last
$40.53 |
Change
-0.230(0.56%) |
Mkt cap ! $205.5B | |||
| Open | High | Low | Value | Volume |
| $40.18 | $40.53 | $40.12 | $380.4M | 9.420M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3063 | $40.52 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $40.54 | 10286 | 2 |
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| Last trade - 16.10pm 29/08/2024 (20 minute delay) ? |
| BHP (ASX) Chart |