Not really, but I would suspect the market dosnt likely FMG having higher costs and a lower grade product with a clearly downtrending IO price - FMG's margins will get clipped at both ends.
But this was all happening with BHP up 2.5% at one stage.
I suspect some serious portfolio repositioning going on, it wasn't the only stock to have a big move today.
To summarise, I don't know re FMG vs (BHP & RIO) and I am basically making the above up as a guess.
Iron ore price, page-34565
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Last
$17.49 |
Change
0.300(1.75%) |
Mkt cap ! $53.85B | |||
| Open | High | Low | Value | Volume |
| $17.34 | $17.56 | $17.13 | $141.9M | 8.137M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 286 | $17.45 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $17.49 | 26714 | 5 |
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| Last trade - 16.10pm 17/09/2024 (20 minute delay) ? |
| FMG (ASX) Chart |