Great to see the DCE is starting to show a decent pronounced upward trend again.
The Jan contract is back above 700 whilst the Oct one is trading above 765. Despite the recent falls, I am confident that the mean will remain well above 100usd for the foreseeable future. Once the inauguration of Xi is over I suspect we will see a kinder gentler lockdown that will be more pro real estate & infrastructure- the normal Chinese playbook. With so much stimulus already around and a pronounced goal to support the real estate I agree with the likes of Mike Henry at BHP & Lizzy Gaines at FMG that see a good future for our IO in China.
Helping to support our revenue is the Aust dollar, with every Hawkish utterance by Powell & his colleagues at the Fed about Interest rates, the AUD takes a dive. Todays July balance of trade figures have seen a fall from a massive surplus of ~$17b down to $8b. The AUD is likely to do a swan dive off this and my Fx mates suggests we could break $0.60c usd mark. This would be massive and very productive for profits, but bad for that trip to Hawaii I was planning to do in Nov before the over priced Dec school holidays are upon us all.
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$19.76 |
Change
-0.220(1.10%) |
Mkt cap ! $60.84B |
Open | High | Low | Value | Volume |
$19.66 | $19.80 | $19.20 | $191.1M | 9.763M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 4673 | $19.73 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$19.76 | 31740 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 4673 | 19.730 |
3 | 3406 | 19.700 |
3 | 70531 | 19.690 |
1 | 3000 | 19.680 |
1 | 10000 | 19.670 |
Price($) | Vol. | No. |
---|---|---|
19.760 | 31740 | 2 |
19.780 | 1500 | 2 |
19.800 | 3814 | 4 |
19.830 | 20872 | 6 |
19.850 | 28178 | 4 |
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