As I was saying, fundamentals are strong.
Straight from the company’s transcript call….
1. FMG’s demand for lower grade iron ore strengthened during the quarter.
2. Their integrated operations and marketing strategy, contributed to an increase to their price realisations.
3. Their products and consistent quality is well recognised by the market and their customers.
4. FMG continue to see strong demand.
5. November shipments are fully allocated and the estimated inventory of FMG's products at Ports in China at low levels.
6. China’s steel demand has proven resilient this year.
7. FMG still anticipate crude steel production of about one billion tonnes despite the headwinds due to ongoing COVID-related lockdowns and continued weakness in China’s property sector.
Reference:
Iron ore price, page-47884
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Last
$17.95 |
Change
0.220(1.24%) |
Mkt cap ! $55.26B | |||
| Open | High | Low | Value | Volume |
| $17.93 | $18.00 | $17.70 | $124.3M | 6.951M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 823 | $17.94 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $17.95 | 14618 | 1 |
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| Last trade - 16.10pm 18/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |