In my opinion this iron ore price correction is an incredibly good thing for FMG owners. Reasons as follows;
1. The Chinese government will point to it as a win. They were losing face when IO stubbornly stuck at USD200 plus. Now they can day they won because of the price fall.
2. The volatility will scare off investment. This will prevent new supply being built and hence keep proces higher for longer.
3. These prices are still fabulous.
Iron ore price, page-35239
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$22.10 |
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Mkt cap ! $68.04B | |||
| Open | High | Low | Value | Volume |
| $21.99 | $22.22 | $21.87 | $84.79M | 3.834M |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 9803 | $22.09 |
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| Price($) | Vol. | No. |
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| $22.11 | 10620 | 3 |
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