Matt
The Chinese demand has not decreased dramatically,
it is the over supply which has caused the price collapse!
RIO, BHP, VALE and FMG are largely to blame!
If RIO cut supply VALE would take their market share.
If BHP, RIO and FMG cut supply a lot of the Chinese mines which closed over the last year would come back on line and VALE would reap the benefits!
It is not our Evil customers fault! lol
If they start putting more money into our country
that would be a good thing!
It would certainly help FMG if they were to take it over!
The real threat is they may decide they are sick of getting burnt buying into dodgy Australian assets!
I don't think VALE have been silent.
They said last year they were planing to double
their production!
In the short term they have a goal of increasing production to 453mmt by 2018 up 327mt.
Don't forget Gina's 50mmt, if the market doesn't
like the look of things to come, it is probably
getting it right!
TODAY:
Futures down Spot down! FMG Down!
Platts 62%Fe down 10 cents to $47.80/dmt
Yesterday: FMG Down!
Futures Up Spot Up!
Platts 62%Fe up 30 cents to $47.90/dmt
Two days ago:
Futures Up Spot UP! FMG UP!
Platts 62%Fe up 90cents to $47.60/dmt
Three days ago:
Futures Down Spot down! FMG Down!
Platts 62%Fe down $2.30 to $46.70
Matt The Chinese demand has not decreased dramatically, it is...
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Last
$21.76 |
Change
0.350(1.63%) |
Mkt cap ! $66.99B | |||
| Open | High | Low | Value | Volume |
| $21.49 | $21.76 | $21.32 | $97.85M | 4.532M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 1380 | $21.75 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.77 | 28571 | 3 |
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| Last trade - 16.10pm 01/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |