rc Look a weaker Aussie Dollar doesn't affect the iron ore price -all contracts are denominated in USdollars - our dollar doesn't matter a fig to the the iron ore price the US dollar is all that counts. A strengthening US dollar may see some slight weakening in the iron ore price due to US yuan differentials and in fact part of the recent weakness has be due to US dollar uncertainty by traders. All things considered a weaker Aussie is great for FMG, lower US dollar costs (denominated in aussie dollars) and bigger margins. Cheers
Iron ore price, page-32
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Last
$21.41 |
Change
-0.260(1.20%) |
Mkt cap ! $65.92B | |||
| Open | High | Low | Value | Volume |
| $21.52 | $21.67 | $21.30 | $150.5M | 7.000M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 93 | $21.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.41 | 12657 | 3 |
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| FMG (ASX) Chart |