No doubt this sell off has been savage. Possibly a bit more to come for FMG as we go XD.
Then what? We continue to be profitable at prices sub $30/t. FMG looking for growth by bringing Iron Bridge online
Morgan Stanley calling for $55/t within 6 months. I'd probably agree with that if society was happy with its ageing infrastructure, councils stopped approving new residential housing, Vale was a stable supplier, and China wasn't a piss take nation.
Plenty of reasons to ride this slump out. It's not going to cripple FMG.
Iron ore price, page-35880
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Last
$16.20 |
Change
0.080(0.50%) |
Mkt cap ! $50.09B | |||
| Open | High | Low | Value | Volume |
| $15.98 | $16.34 | $15.91 | $139.5M | 8.619M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 70232 | $16.19 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $16.20 | 830 | 1 |
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| Last trade - 16.10pm 09/09/2024 (20 minute delay) ? |
| FMG (ASX) Chart |