Thanks Asx_dude, Chinese PMI number released yesterday come in slightly lower than expected plus profit taking last day of the month plus ex dividend, saw share price dropped closed to $6. However, Chinese "Construction Sector" PMI was still healthy at 59.2, and should continue in the coming months.
Reason for FMG discount narrowing was due to good demand which saw 56.7% inventory continue to lower last week, at combined 6 Nothern Chinese IO ports, FMG total IO inventory went from 27% of the total IO inventory at beginning of the year to 17% last week. If demand for FMG IO continues, we should see discounts continue to narrow, and hopefully stays around 10-15% like the old days.
DYOR
Frank
Iron ore price, page-10626
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Last
$22.60 |
Change
0.500(2.26%) |
Mkt cap ! $68.93B | |||
| Open | High | Low | Value | Volume |
| $22.41 | $22.63 | $22.22 | $38.44M | 1.713M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 2310 | $22.59 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $22.60 | 1774 | 6 |
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| Last trade - 12.32pm 15/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |