FMG 4.11% $17.97 fortescue ltd

What will happen to FMG share price and the price of iron...

  1. 96 Posts.
    lightbulb Created with Sketch. 297
    What will happen to FMG share price and the price of iron ore?
    Here is what I think will happen, as usual do not listen to me and do your own research . The war in the Ukraine will continue, there will be no quick end to this horror, Russia now seems intent on occupying or destroying all the ports of Ukraine on the Black Sea.
    Ukraine supplies 40 million tons of iron ore to export, that is now ended for as long as the war continues and with the port infrastructure destroyed it will be some time later before exports can resume.
    Russia is now a pariah state with apart from oil, gas and gold unable to sell iron ore, pig iron or finish steel except to the Chinese in limited quantity because of logistics.
    This brings in a lot of unforeseen consequences, eg. The US is suffering an acute shortage of pig iron and scrap steel for it’s electric furnaces and Germany a shortage of steel as it imported large volumes from both Russia and the Ukraine for it’s manufacturing industries.
    Guess which country has the capacity to supply both countries and for that matter everyone else who wants finished steel, CHINA. !!!!
    Steel is selling for north of $5000.00 a ton US, so there is plenty of profit for Chinese steel mills to pump out supply.
    The outlook for iron ore and FMG in this inflation environment is excellent as opening up new mines becomes prohibitively expensive, has anyone on this forum has priced the cost of building a new house recently? Price rises at present are frightening.
    I expect the share price of FMG to hover around the current price for the next few months before moving up ahead of the next dividend. I will not be posting again for a couple of months as I doing what every FMG shareholder should do is stop looking at the share price and go fishing. As a sadly missed FMG contributor would say. FMG is GO

    Good Luck to all holders!

 
watchlist Created with Sketch. Add FMG (ASX) to my watchlist
(20min delay)
Last
$17.97
Change
0.710(4.11%)
Mkt cap ! $55.32B
Open High Low Value Volume
$17.30 $18.03 $17.13 $198.6M 11.21M

Buyers (Bids)

No. Vol. Price($)
7 31540 $17.95
 

Sellers (Offers)

Price($) Vol. No.
$17.98 24196 6
View Market Depth
Last trade - 16.10pm 21/08/2024 (20 minute delay) ?
FMG (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.