HOLY HELL iron ore going insane!
Don't think anyone would've seen this coming, even loyal bulls! China has gone full retard and looks to have done another panic stimulus like after the GFC. Credit growth is dangerously high. This is not going to end well. BUT the can has probably been kicked down the road for months if not years.
In the mean time, as China's zombie mills come back to life they're going to be sucking in a lot of iron ore, hence the massive rally we've seen. Looks like FMG will be able to stop their high grading now with minimal damage to profits.
Still, a stroke of luck more than anything! Likewise with BHP/Rio relenting on their expansion targets... looks like Andy got what he wanted afterall.
Y u so obssessed wit me blackeyed?
I've been making hay on this rally (I called my buy on BHP - I prefer top-tier resource companies, not ones high grading and with lower quality ore... bet that makes you mad huh?).
Over and out...
Your mate,
Andy.
HOLY HELL iron ore going insane! Don't think anyone would've...
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Last
$21.63 |
Change
-0.040(0.18%) |
Mkt cap ! $66.59B | |||
| Open | High | Low | Value | Volume |
| $21.48 | $21.63 | $21.02 | $156.6M | 7.309M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2129 | $21.60 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.63 | 817 | 1 |
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| Last trade - 16.10pm 26/06/2024 (20 minute delay) ? |
| FMG (ASX) Chart |