GS has put a $9.12 price target on FMG...India who supplies roughly 20% of seaborne iron ore trade volumes is a mess, of the 3 exporting indian states, Karnataka has banned export (subject to court appeal), Orissa wants to ban, and Andhra Pradesh produces low grade. Likely at best a 20% export tax on Indian iron ore, worst material supply disruption as bans confirmed. Not as strange as it might seem, Australia used to ban iron ore, and India just banned export of onions and suspended wheat shipments some time ago...
goldman's price target & indian export bans
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Last
$22.10 |
Change
0.100(0.45%) |
Mkt cap ! $68.02B | |||
| Open | High | Low | Value | Volume |
| $21.99 | $22.22 | $21.87 | $84.79M | 3.834M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 9803 | $22.09 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $22.11 | 10620 | 3 |
View Market Depth
| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |