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0.65%

$18.56 fortescue ltd

http://www.watoday.com.au/business/...lation-of-telstra-shares-20...

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Super Sleuth

3,277 Posts.

13/03/15

11:02

Post #: 14908032
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Originally posted by karasco58 ↑

Not good

This strategy of creating a tsunami of more supply of seaborne ore is really having a major effect on the price.

According to this article, steel demand instead of remaining stable is also in unknown territory and demand may have peaked last year.

BHP/RIO/Vale are adding so much more supply into the already oversupplied market, that the imbalance of supply/demand will be so great that IO prices willych further with low prices for the next decade.

Even the big 3 will be effected big time.

RIO was counting on aluminium sales to offset IO, but seems aluminium also in oversupply mode, with prices down 16,00%

Australia is the largest supplier of IO and is increasing IO supply to China by far the most in volume terms

Still cannot fathom this flawed strategy

http://www.mining.com/dire-chinese-steel-outlook-drops-iron-ore-price-new-low-71340/

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http://www.watoday.com.au/business/...lation-of-telstra-shares-20150312-1422z3.html

FMG Price at posting: $1.95 Sentiment: None Disclosure: Not Held
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(20min delay)
Last $18.56		Change 0.120(0.65%)		Mkt cap ! $57.14B

Open	High	Low	Value	Volume
$18.34	$18.68	$18.30	$218.7M	11.78M

Buyers (Bids)

No.	Vol.	Price($)
9	57703	$18.55

Sellers (Offers)

Price($)	Vol.	No.
$18.60	4301	2

View Market Depth

No.	Vol.	Price($)
9	57703	18.550
1	20155	18.540
2	1186	18.530
6	95277	18.520
2	21055	18.510

Price($)	Vol.	No.
18.600	4301	2
18.610	26650	3
18.620	15970	5
18.630	500	1
18.650	25989	8

Last trade - 16.10pm 29/08/2024 (20 minute delay)

FMG (ASX) Chart