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GRR

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26.0¢ grange resources limited.

High level observations on the recent IO price plunge, page-2

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14,049 Posts.

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21/08/21

10:32

Post #: 55462955
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Weird thing is that posters are saying IO is going up and other posters say it dropped dramatically.

very confusing to we poor lay people

Originally posted by Ironstone338: ↑

Well that was a wild week just gone. Here are my observations.
1. IO price has adjusted from ridiculous to healthy high.
2. Not a surprise nor a big deal for a thick margin premium business like Grange. Refer others posts on profitability, quality and margin.
3. Global government announced stimulus spending requires steel therefore IO in large volumes for years. Theres only so long the mills and buyers can hold their breath (unless they have an economic deathwish).
4. Increased inflationary movement and competition for the goverment money is both an upward price pressure and incentive to not hold breath too long.
5. Emissions and green targets may be political excuse for an intentional play to crash the IO price. Stock up then crash the vendors sales. Like dunny paper during Covid. Even if that is not correct, mature long term investors will look through it to the fundamentals - see 1 to 4 above.
5. Grange fared well in the past week, reflecting the premium IO quality and price it enjoys, plus having strong Chinese relations places it at the front of the supplier queue.
6. Well done to the strong shareholding group for such calm resilience in the past week.
7. IO futures rose 2.5% after ASX close Friday so next week may see a turnaround.

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GRR Price at posting: 63.0¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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(20min delay)
Last 26.0¢		Change 0.005(1.96%)		Mkt cap ! $300.9M

Open	High	Low	Value	Volume
26.0¢	26.5¢	25.5¢	$224.3K	860.7K

Buyers (Bids)

No.	Vol.	Price($)
4	121209	26.0¢

Sellers (Offers)

Price($)	Vol.	No.
26.5¢	286541	9

View Market Depth

No.	Vol.	Price($)
2	117055	0.260
2	100004	0.255
13	325215	0.250
4	204234	0.245
15	306029	0.240

Price($)	Vol.	No.
0.265	279593	8
0.270	134037	4
0.275	357994	6
0.280	190500	6
0.290	154000	5

Last trade - 16.10pm 11/10/2024 (20 minute delay)

GRR (ASX) Chart

High level observations on the recent IO price plunge, page-2

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High level observations on the recent IO price plunge, page-2

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