DCE IO looked very weak last night and into today. Strong chance of further falls in the coming week. Mills are looking past the 84Mt port stocks after getting comfortable operating from minimal inventories.
Setting aside the fundamentals, I'm concerned about the fact rail projects have continually been accelerated such that the 2020 railway plan has advanced to 2015, and the rise of scrap metal in the coming years. Locals will counter with one belt, one road and sure there will be other projects popping up but with property still on the slide, where's the demand catalyst? All eyes on India one feels...
DCE IO looked very weak last night and into today. Strong chance...
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Last
$20.12 |
Change
-0.020(0.10%) |
Mkt cap ! $62.01B | |||
| Open | High | Low | Value | Volume |
| $20.33 | $20.39 | $20.01 | $28.51M | 1.410M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 4951 | $20.12 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.13 | 2550 | 11 |
View Market Depth
| Last trade - 10.44am 03/10/2024 (20 minute delay) ? |
| FMG (ASX) Chart |