I'd put it to you that when a product with 6% less iron in it sells for a 40% discount (partly due to actual refining costs, but mainly for artificial political reasons), that the natural tendency of the market to be "changing" will not be toward a further increase in the discount. It will be for buyers to adapt to use the lower grade product and for the price gap to close.
So well done to anyone who recognised this last year and managed to buy FMG at sub-$4.
Iron ore price, page-11180
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$18.44 |
Change
0.000(0.00%) |
Mkt cap ! $56.77B | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | $18.54 | $18.33 | $4.897M | 236.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 16748 | $20.28 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $16.96 | 4127 | 2 |
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