Funny, according to the AFR the IO futures reacted instantly to this news. Sure enough, Dalian fell noticeably yesterday but recovered only to lose ground overnight. I think IO price has more or less peaked in this cycle but will be well supported in the short term.
Interestingly, murmurs resurfaced that China has significant domestic IO capacity built up over the last several years now ready to go. Maybe this CMRG has some omninous surprises hidden under it's sleeves on the demand side.
Can someone crank the numbers to see whether FMG is profitable should 62% fe CFR falls to $60 using current exchange rate, operating costs and lower grade discount ?
And what would FMG share price be in that scenario ?
Cheers
Iron ore price, page-48572
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Last
$27.60 |
Change
0.590(2.18%) |
Mkt cap ! $84.14B | |||
| Open | High | Low | Value | Volume |
| $27.64 | $27.67 | $27.15 | $49.64M | 1.808M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 20 | 5208 | $27.59 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $27.60 | 29335 | 21 |
View Market Depth
| Last trade - 12.46pm 22/05/2024 (20 minute delay) ? |
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Last
$27.56 |
Change
0.590 ( 2.35 %) |
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| Open | High | Low | Volume | ||
| $27.64 | $27.66 | $27.16 | 430802 | ||
| Last updated 13.03pm 22/05/2024 ? | |||||
| FMG (ASX) Chart |