I think China will respond after Labor's budget reply as whatever message sent is intended for both parties. Early election in November is almost guaranteed.
Had I said 2 days ago that Canberra makes worst case assumption that IOP could tumble to $55 by May 2022, I would have been ridiculed. Fact is, Frydenberg knows something ominous is on the horizon (some would argue it's self inflicted).
Problem is Frydenberg hasn't factored $55 at 350MTA less volume in his worst case scenario. Even if IO export volume doesn't take a massive hit, there is no way he can deliver his budget programme without taking on even more debt that would crash the AUD.
The big question is has China stockpiled so much from the seaborne market and from domestic production (presumably for many months) that they will plunge IO import (not entirely but close).
BTW, it looks like wheat is the next on the chopping board.
- Forums
- ASX - By Stock
- Iron ore price
I think China will respond after Labor's budget reply as...
-
-
- There are more pages in this discussion • 22,625 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
|
|||||
Last
$17.97 |
Change
-0.360(1.96%) |
Mkt cap ! $55.32B |
Open | High | Low | Value | Volume |
$18.10 | $18.28 | $17.97 | $250.7M | 13.82M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 104054 | $17.96 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$18.07 | 4370 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 3800 | 17.960 |
11 | 1487 | 17.950 |
3 | 6628 | 17.930 |
1 | 1500 | 17.920 |
28 | 7848 | 17.900 |
Price($) | Vol. | No. |
---|---|---|
18.070 | 4370 | 1 |
18.080 | 270 | 1 |
18.140 | 1700 | 2 |
18.150 | 100 | 1 |
18.160 | 100 | 1 |
Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
FMG (ASX) Chart |
The Watchlist
SER
STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
SPONSORED BY The Market Online