You are right the IO price increase of 30 to 50% have been factored in, however the blue sky of FMG is whats driving the SP. China's demand for IO is incredible and not slowing down. The desired 200mtpa is whats driving the SP, more and more are beleiving it can be achieved.
China hates the BHP/RIO monopoly on iron ore and are looking for long term suppliers of iron ore. Who can presently do it? FMG, they are producing early next year. YES there will be other producers in 2010, but there are only a few who can offer it for the long term and that is a further away.
Why do you think the Chinese are putting so many billions into several of the mid-teir iron companies? Because the price will continue to rise and there isnt enough supply!!!!
FMG was the first to break the high barriers to entry in the Iron Ore industry, now MMX, MIS, GBG, ARH, AGO are all looking to join in and are backed up by Chinese BILLIONS.
FMG truely is a success story, and congrats to Andrew Forrest.
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You are right the IO price increase of 30 to 50% have been...
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Last
$17.95 |
Change
0.220(1.24%) |
Mkt cap ! $55.26B |
Open | High | Low | Value | Volume |
$17.93 | $18.00 | $17.70 | $124.3M | 6.951M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 823 | $17.94 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$17.95 | 14618 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 12262 | 17.920 |
5 | 30228 | 17.910 |
7 | 16836 | 17.900 |
1 | 9781 | 17.890 |
5 | 83016 | 17.880 |
Price($) | Vol. | No. |
---|---|---|
17.950 | 14618 | 1 |
17.970 | 600 | 1 |
17.990 | 3000 | 2 |
18.000 | 1000 | 1 |
18.010 | 300 | 2 |
Last trade - 16.10pm 18/11/2024 (20 minute delay) ? |
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