It's up 300% from early in the year. Yet we have;
- Massive new capacity being added by Vale
- A much flatter and lower cost curve
- very high margins by historic standards ... that will lead to further production increases if they were to hold for a while
- Pollution issues raising their head in china in the short-term
- even Nev now is being cationary on current pricing. BHP and Rio having been in this space for years now.
And you think last week is rigged?
And when have resources sticks ever been "safe"?
Still looks over-valued to me given these headwinds and how much stock is concentrated with AF plus a loyal rusted-on retail holder base (who I note have done remarkable well if they bought in a year ago against prevailng wisdom)
It's up 300% from early in the year. Yet we have; - Massive new...
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Last
$21.41 |
Change
-0.260(1.20%) |
Mkt cap ! $65.92B | |||
| Open | High | Low | Value | Volume |
| $21.52 | $21.67 | $21.30 | $150.5M | 7.000M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 93 | $21.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.41 | 12657 | 3 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| FMG (ASX) Chart |