FMG 0.00% $20.47 fortescue ltd

fmg and fe, page-442

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    SGX TSI iron ore CFR China (62% FE)

    Contract March . April May June
    Previous $85.10 $81.13. 78.72 76.53
    Today $85.13+ $82.05+ 78.50- 76.52-

    SGX direction is rather neutral for Monday.
    However, futures markets indicate lower SP in the near future. My estimate is around $5.00 by end of May.
    Markets are often wrong, contrary to what one of ours ex- PM strongly believed. Deciding factor may be a wish of Chinese government or some political event. Read about South Korean tourist industry.
 
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