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14/02/18

07:53

Post #: 31037173
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Originally posted by Troydt ↑

The discount is still 40 - 45 % and FMG only have themselves to blame. They are still selling a sheet load of ore.

Why dont they reduce there output a bit and let the price come up. The chinese are still buying the low grade ore to satisfy there 1 billion tonnes of imports.

What I cannot understand is that FMG costs are US$12 per tonne.

It has been reported that the pilbara is running out of 62FE + deposits so in the coming years there may be a supply issue which leaves lower grades as the majority 56Fe +. I am sure the chinese will take whatever they can get when it is available to market.

I will see if I can find the article I was reading.

I hope that the coming higher interest rates blow BHP and RIO debt to outer space to send them broke. Imagine the supply issue then the chinese will have. LOL

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Just on FMG costs, their actual cost after taking into account all overheads etc is early $20s from memory. You may know that already, apologies if you do.

AGO Price at posting: 2.6¢ Sentiment: None Disclosure: Not Held
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