Hi Garrye. I disagree with you about "magic pudding". There is a massive number of deposits worldwide that are attractive to develop at an iron ore of of USD90 to USD100 per tonne. The number of projects being built now is small because the analysts are currently not forecasting those high ore prices long term.
The risk is real that a lot of projects get built and then in 2 years the price drops because of oversupply. That is what happened in 2012.
Personally I would like to see the ore price drop quickly to USD90 per tonne. At that level fmg is making great money but less projects will be built and so a fall in prices due to oversupply is less likely in the future.
I reckon we have a couple of years at current prices because of the time required to build more production capacity.
Iron ore price, page-28599
-
- There are more pages in this discussion • 24,103 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
$21.26 |
Change
-0.450(2.07%) |
Mkt cap ! $65.45B | |||
| Open | High | Low | Value | Volume |
| $21.70 | $21.70 | $21.02 | $145.2M | 6.814M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 9760 | $21.26 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.27 | 7866 | 4 |
View Market Depth
| Last trade - 16.10pm 24/06/2024 (20 minute delay) ? |
| FMG (ASX) Chart |