thanks Tony. I think the expectations from the market in week2 of CNY have been unrealistically high. Although the markets have reopened, many had not resumed work until this week.
I also think there are quite a few supply spotfires that are being overlooked at present. Ie citic cutting production by 1/3 at magnetite mine, Sweden biggest EU supplier of IO, only operating at 1/3 of capacity due to second derailment, India highly likely to impose tax on IO exports to meet growing steel demand (they’ve shipped 44mt over last year), South Africa mass redundancies due to IO shipping constraints for next couple of years…
last week was also worst shipping week to China for over 12 months from Oz due to cyclone (only 10mt shipped to China).
thanks Tony. I think the expectations from the market in week2...
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Last
$25.66 |
Change
0.090(0.35%) |
Mkt cap ! $79.00B | |||
| Open | High | Low | Value | Volume |
| $25.72 | $25.86 | $25.63 | $77.37M | 3.012M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 11417 | $25.65 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $25.70 | 2000 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$25.72 |
Change
0.090 ( 0.55 %) |
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| Open | High | Low | Volume | ||
| $25.72 | $25.86 | $25.64 | 785342 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| FMG (ASX) Chart |