Hi Billcan, I think Nev Power is right about the market being already in balance.
When the Chinese re-stock (round about now)...oh BTW they have a Stimuklus $1 Trillion worth steel-intensive infrastructure projects that they need to restock for (above normal consumption)....then the IOP will easily overshoot on the upside.
Who knows $80/T...$90/T.
As Vale said when it was at $70/T, it already overshot on the downside.
At $80/T, FMG sp would be $3 easily given the C1 cost these days is at BHP/RIO levels.
http://www.bloomberg.com/news/artic...elerate-1-trillion-in-projects-to-spur-growth
Iron Ore Price, page-2334
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Last
$17.97 |
Change
-0.360(1.96%) |
Mkt cap ! $55.32B | |||
| Open | High | Low | Value | Volume |
| $18.10 | $18.28 | $17.97 | $250.7M | 13.82M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 104054 | $17.96 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.07 | 4370 | 1 |
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| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |