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
Maybe, if FMG is happy to settle more in RMB, the Chinese giant...
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Last
$26.05 |
Change
0.380(1.48%) |
Mkt cap ! $80.20B | |||
| Open | High | Low | Value | Volume |
| $25.80 | $26.22 | $25.79 | $125.7M | 4.828M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 10772 | $26.03 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $26.08 | 1300 | 1 |
View Market Depth
| Last trade - 16.10pm 30/04/2024 (20 minute delay) ? |
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Last
$26.09 |
Change
0.380 ( 1.79 %) |
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| Open | High | Low | Volume | ||
| $25.81 | $26.22 | $25.78 | 876694 | ||
| Last updated 15.59pm 30/04/2024 ? | |||||
| FMG (ASX) Chart |