it’s not just iron ore you save, you also save coal so the calculation is more like 1 tonne of scrap saves 1.6 tonnes of Iron Ore + Coal + lime + other additives.
The price of scrap and Iron Ore will generally balance each other out, so if scrap is trading at $520, that is because at that moment that is how much the virgin ingredients cost.
scrap will never trade at much more than the price of Iron Ore and the other ingredients, so if you do your math and figure out that Iron is way cheaper than scrap, that’s because you have left out the other ingredients.
it’s not just iron ore you save, you also save coal so the...
Add FMG (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$25.66 |
Change
0.090(0.35%) |
Mkt cap ! $79.00B | |||
| Open | High | Low | Value | Volume |
| $25.72 | $25.86 | $25.63 | $77.37M | 3.012M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 11417 | $25.65 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $25.70 | 2000 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
|
|||||
|
Last
$25.72 |
Change
0.090 ( 0.55 %) |
||||
| Open | High | Low | Volume | ||
| $25.72 | $25.86 | $25.64 | 785342 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| FMG (ASX) Chart |