Hi team,
Might. Be stating an obvious thing. But it was not obvious to me until now. China wants better grade io to help reduce pollution. FMG mainly supply 58%grade ore. The other miners have = or greater quality which comes at a higher price.
If 58% is good enough to help meet the requirements of steel makers and meet govt requirements from a pollution stand point , and steel maker get product at a cheaper price than the higher grade is not what they will tend to purchase. Eats into their margins.
This I think is why FMG sells all its ore on a consistent basis , along with a great sales and marketing team.based in china
Also why rio has had to discount product to sell its tones.
Pure iron ore play company reducing debt every quarter. with no debt at end of the year, and io averaging above $70 has to be a big win for SP once the annal - ist get it together.
Have a great weekend.
Cheers MJak
Hi team, Might. Be stating an obvious thing. But it was not...
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$21.92 |
Change
0.350(1.62%) |
Mkt cap ! $67.49B | |||
| Open | High | Low | Value | Volume |
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| 1 | 1000 | $21.91 |
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