An interesting discussion on future Fe supply/demand is found here
In the short term,
* BHP report claiming a Fe support level (of 62% equivalent) between US$80-100/t since 170mt of global production is above US$80/t cost (a rather large 10% of global output)
* Money of Mines mentions that there are projects on the horizon that could cover this 170mt high-cost component, in particular, the Simandou mine complex but those will take time to develop (500+km of rail, port, $10 billion in capex. Production expected to start in 2025 and ramp to 60Mt over 30 months assuming no delays)
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However, long before then, BHP claimed,
* Chinese property market to bottom in 2025
* Machinery overtaking housing in Fe demand
* India Fe demand keeps growing rapidly
So the Money of Mines take on this is that this US$80-$100 Fe support zone is valid and we are likely near the bottom for prices for Fe (dipped to US$90 recently and pulled back harder than in Oct 22).
And with that (and many other points [company EV, looming buyback, 5-year reserve forever, etc]), I'm in at $0.315. Good luck!
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An interesting discussion on future Fe supply/demand is found...
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Last
31.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $383.7M |
Open | High | Low | Value | Volume |
31.5¢ | 32.0¢ | 30.8¢ | $671.4K | 2.149M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
6 | 149490 | 31.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
31.5¢ | 130446 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
6 | 149490 | 0.310 |
11 | 226384 | 0.305 |
19 | 452628 | 0.300 |
4 | 80689 | 0.295 |
2 | 75000 | 0.290 |
Price($) | Vol. | No. |
---|---|---|
0.315 | 120446 | 3 |
0.320 | 185279 | 5 |
0.325 | 97500 | 4 |
0.330 | 110000 | 4 |
0.335 | 132800 | 4 |
Last trade - 16.10pm 28/08/2024 (20 minute delay) ? |
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