As of Wednesday, the iron ore price, the share price of Australian resource companies (in particularly pure IO plays) and the global iron ore trade will no longer have much relevance to grade, quality, shipping cost or usual demand and supply fundamentals. We have just declared war on China. It is war time.
Whether your investment in FMG will go up in smoke is all politics now whether you like it or not.
I have been assessing the situation since the act of war. My conlcusion is you won't need to wait very long before deciding to hold or sell.
I strongly suggest those who plan to sell set a stop loss as it will resemble nothing short of a bottomless pit.
As of Wednesday, the iron ore price, the share price of...
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Last
$18.87 |
Change
0.590(3.23%) |
Mkt cap ! $58.10B | |||
| Open | High | Low | Value | Volume |
| $18.86 | $18.90 | $18.44 | $375.1M | 19.96M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 900 | $18.86 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.88 | 3586 | 4 |
View Market Depth
| Last trade - 16.10pm 31/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |