FE on SMM and some other info about 58% discount to 62% and some other FMG price data.
Futures have fallen 20% in last two weeks in response to a range of factors and the timing of which coincided with the deterioration of global markets and the return of lockdowns in Chinas super cities,
Steel mill margins are unhealthy but despite this the demand for FMG products has been strong as mills turn away from higher grade Ore resulting in a reduction between the margin that separates 62 & 58%, This margin is now below 10% and the lowest it has been for a long time.
Although the price of iron ore is trending down now, once the lockdowns end due to the sheer volume of stimulus in China the demand for steel will pick up and so will iron ore.
Even at todays prices we are still making good coin.
FE on SMM and some other info about 58% discount to 62% and some...
-
- There are more pages in this discussion • 7,421 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
$21.32 |
Change
0.110(0.52%) |
Mkt cap ! $65.64B | |||
| Open | High | Low | Value | Volume |
| $21.24 | $21.50 | $21.07 | $99.18M | 4.655M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 17454 | $21.31 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.35 | 336 | 1 |
View Market Depth
| Last trade - 16.10pm 24/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |