All that matters now is that high cost supply shuts down faster than new low cost supply comes on. The short term demand drop in China has exasperated the oversupply for a while
I'm guessing that a third of miners are underwater at the moment and none of them will be getting new loans from the banks
Ideal senario is that supply / demand balance and China resumes growth. Months a long time in mining
All that matters now is that high cost supply shuts down faster...
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Last
$22.62 |
Change
0.700(3.19%) |
Mkt cap ! $69.64B | |||
| Open | High | Low | Value | Volume |
| $22.38 | $22.75 | $22.26 | $131.3M | 5.814M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 120 | $22.62 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $22.63 | 6416 | 3 |
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| Last trade - 16.10pm 04/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |