China in mess of its own making and lack of power which means they can't make enough steel.
China has a surplus of steel. That is why ~150m tonnes of IO is sitting on Chinese docks. Chinese blast furnaces are currently running at just 63% capacity.
Steel is made with coking coal. It actually produces electricity from burning blast furnace gas. .
FMG will be making green steel next year.
A few tonnes as a 'proof of concept'
Several weeks ago I did say by years end the IO price might be $80US/T.
FMG are only getting $60-65 at current prices.
FMG will be back up when FFI start to sell its green things next year and beyond.
It is decades away - if ever.
Iron ore price, page-40337
-
- There are more pages in this discussion • 14,743 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add FMG (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$20.10 |
Change
0.700(3.61%) |
Mkt cap ! $61.88B | |||
| Open | High | Low | Value | Volume |
| $20.26 | $20.49 | $19.94 | $337.2M | 16.71M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 38056 | $20.09 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.15 | 20000 | 1 |
View Market Depth
| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| FMG (ASX) Chart |