Haha mate. We will soon find out. Could be opposite of an eagle.
Interesting when you read that the FE market is overheated as supply now increasing.
What is completely different about this FE boom is that it is both supply and demand curves are continuing to diverge.
Steel output YTD is up 5.5% according to world steel association. Supply as we know is down a bit more than this.
Even if steel output moderates (ie increases by 2-3% from 5.5%) and/or supply increases but still down 3-4% yoy, the deficiency still grows.
The reality is there are barely any new major mines coming online anytime soon and most economies now are in expansionary mode (ie lower rates) and infrastructure spending is likely to increase.
This is a “structural issue” and its going to be a long time before the mkt is balanced once more.
Iron ore price, page-13912
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Last
$17.73 |
Change
-0.210(1.17%) |
Mkt cap ! $54.65B | |||
| Open | High | Low | Value | Volume |
| $17.86 | $18.00 | $17.67 | $106.1M | 5.956M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3136 | $17.73 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $17.76 | 10562 | 2 |
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| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |