would you buy at the top of the cycle? Or would you prefer at the beginning of the cycle? At the end of the day, iron ore prices depend on how much China is willing to pay for it. If demand subsides for the next 3 years. I’d expect $50 per tonne or less & FmG will be back to $4-6 again unless they find a better resource to diversify. It will most likely end up as a burden or not as profitable as iron ore. All imo. $22 or anything above $12 is not value for FMG long term. If China payed less than $50 a few years ago, you’d bet they will drop it down at those prices again justifying iron ore price history.
Iron ore price, page-35268
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Last
$22.10 |
Change
0.100(0.45%) |
Mkt cap ! $68.04B | |||
| Open | High | Low | Value | Volume |
| $21.99 | $22.22 | $21.87 | $84.79M | 3.834M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 9803 | $22.09 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $22.11 | 10620 | 3 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |