There seems to be a case for continuing upward support for the IO price
1. the level of port stocks from SSM (metal.com) is stablising around 115 million tonnes which is significantly lower than 130-135 million averaged prior to the vale disaster
2. the level of steel stocks at mills is also low, very low. A lot of media reporting has been about the end of financial year but I think it's more to do with the uncertainty with local governments deciding pollution control rules for the first time. Stocks have declined 10-15% over recent week
3. the rebar price is up quiet a bit 3-4%
so all going well the mills will soon react to the higher rebar price and the IO price will go up due to low inventories and the fingers cross the pollution is not too bad.
There seems to be a case for continuing upward support for the...
-
- There are more pages in this discussion • 36,667 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add FMG (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$18.33 |
Change
0.360(2.00%) |
Mkt cap ! $56.43B | |||
| Open | High | Low | Value | Volume |
| $18.11 | $18.49 | $18.10 | $176.9M | 9.659M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 78 | $18.31 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.35 | 100000 | 2 |
View Market Depth
| Last trade - 16.10pm 22/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |