The iron ore FMG sells is very tech heavy.
Apple, microsoft, netfix and google weighing down the nasdaq has a direct influence on the the steel making ingredient FMG mine's.
There is a risk that the software contained within the ore is laden with bugs that could risk imminent shutdown of blast furnance's across China.
DOW dropping to 31,000 is also extremely bearish.
Sentiment across the Pilbarra is heavily dented when its forecast that Apple will miss is profit targets by 1 billion, and only make 27 billion a quarter and not 28.
Iron ore price, page-28612
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$21.26 |
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-0.450(2.07%) |
Mkt cap ! $65.45B | |||
| Open | High | Low | Value | Volume |
| $21.70 | $21.70 | $21.02 | $145.2M | 6.814M |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 9760 | $21.26 |
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| Price($) | Vol. | No. |
|---|---|---|
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