Think you'll find there's more relevant news to FMG and other...

Think you'll find there's more relevant news to FMG and other iron/steel producres today that the iron ore price going down. FMG in particular will still be able to make an absolute killing in future if iron ore is around the 90 mark as long as there is not a total capitulation in consumption in china that it stoops to the 60s-70 cents range which if you understand China and their capability is impossible.

read on:

Chinese stocks rose yesterday, sending a gauge of mainland companies listed in Hong Kong to its biggest gain in four months, amid speculation the government will do more to shore up economic growth.
China Vanke and Poly Real Estate Group led gains for mainland developers after the National Business Daily said Wenzhou became the latest city to remove home-purchase restrictions.
The Hang Seng China Enterprises Index, also known as the H-share index, climbed 2.4 per cent to 10,605.22 at the close in Hong Kong.
The article on easing property restrictions follows a report from the China Business News yesterday that the government granted a 1 trillion yuan ($US161 billion) loan to China Development Bank to help fund subsidized housing. The central bank refrained from draining liquidity from money markets today, as policy makers seek to keep economic growth from slipping below their 7.5 per cent target.
“We have positive views on H shares,” Ryan Tsai, an Asia equity strategist at Standard Chartered Bank, said. “Policy easing, improving economic growth and increasing fund inflows should lead to further upside for the market.”
The Shanghai Composite Index rose 1 per cent, while the CSI 300 Index increased 1.2 per cent.
The Shanghai Composite is valued at 7.7 times 12-month projected earnings, compared with a multiple of 7.1 for the H-share index, according to data compiled by Bloomberg.
The H-share gauge has rebounded 15 per cent from this year’s low in March on signs China’s economy is stabilizing. Data last week showed growth accelerated for the first time in three quarters in the April-June period.