Great question mike!! I'm surprised nobody is discussing this????
While Slange drivels on about central banks freaking out and panicking (whatever the hell that even means???) the basic supply and demand equation gets impacted if this virus takes hold in Brazil's crowded & filthy cities. God help Vale if a scenario eventuates and they have to shut Brazil down similar to Italy...
Global iron ore supplies will be hugely impacted it wont take long before the price rockets back to US$110 - $120 a tonne.
Even with global share markets in melt down, there's no doubt FMG would be a massive winner in this scenario and its share price would sky rocket.
Iron ore price, page-20051
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$22.36 |
Change
-0.230(1.02%) |
Mkt cap ! $68.84B | |||
| Open | High | Low | Value | Volume |
| $22.46 | $22.63 | $22.34 | $108.3M | 4.768M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1690 | $22.35 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $22.37 | 13926 | 2 |
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| Last trade - 16.10pm 17/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |