The shorters must either be plain stupid or they have direct influence with the upper echelon within the CCP and can manipulate the iron ore price at will.
Trying to buy back 34 million shares when MGX is getting closer to increasing their shipping of high grade iron ore is very foolish.
Maybe they've put their faith in analysts who say that iron ore prices will plunge to US$50/tonne shortly.
I'd actually thought that the recent gains in the MGX shareprice were a result of shorters buying back in, when in fact its the shorters who are still selling.
They might be in for a rude surprise.
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Last
37.0¢ |
Change
0.005(1.37%) |
Mkt cap ! $436.7M | |||
| Open | High | Low | Value | Volume |
| 37.0¢ | 37.5¢ | 36.5¢ | $643.3K | 1.744M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 10012 | 37.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 37.5¢ | 1874406 | 15 |
View Market Depth
| Last trade - 15.20pm 22/07/2025 (20 minute delay) ? |
| MGX (ASX) Chart |