I disagree, Gaines backed this point on the interview on sky that the reason high grade ore is in demand is that steel margins are high and the mills are making plenty of money. However if steel margins fall, Steel Mills will have to revert back to 58% ore to save money as 65% ore would not be profitable.
FMG Technical Analysis, page-1219
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$18.27 |
Change
-0.290(1.56%) |
Mkt cap ! $56.25B | |||
| Open | High | Low | Value | Volume |
| $18.70 | $18.72 | $18.21 | $313.4M | 17.09M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 45418 | $18.27 |
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| Price($) | Vol. | No. |
|---|---|---|
| $18.30 | 1200 | 1 |
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| Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |