Maybe, if FMG is happy to settle more in RMB, the Chinese giant steel mills like BaoWu as featured in this article (now republished by Nikkei) will pay a sizable premium on top of the 58% fe spot price meaning more divi.
BaoWu has the appetite to take everything FMG produces and may take more lower grade ore as a proportion of their imports.
At the end of day, the RMB which is very stable will be converted back into the Aussie before FMG banks it.
https://asia.nikkei.com/Spotlight/Caixin/Chinese-steelmakers-increasingly-use-yuan-to-buy-iron-ore-abroad
FMG has already done lots of these RMB trades actually according to the AFR.
https://www.copyright link/markets/equity-markets/fortescue-is-an-unashamed-bull-in-the-china-shop-20200824-p55ol7
Iron ore price, page-44457
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Last
$27.02 |
Change
-0.220(0.81%) |
Mkt cap ! $83.22B | |||
| Open | High | Low | Value | Volume |
| $27.24 | $27.25 | $26.88 | $47.52M | 1.757M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 1297 | $27.01 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $27.02 | 1894 | 7 |
View Market Depth
| Last trade - 13.57pm 21/05/2024 (20 minute delay) ? |
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Last
$27.01 |
Change
-0.220 ( 1.10 %) |
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| Open | High | Low | Volume | ||
| $27.25 | $27.25 | $26.89 | 373132 | ||
| Last updated 14.15pm 21/05/2024 ? | |||||
| FMG (ASX) Chart |