If you were an overall stock market bear, you'd be pretty pissed at last nights outcome. US inflation came in hotter then expected again (so there is a trend here), but despite the initial sell-off US stocks still went up even as bond yields went up!
Meanwhile IO prices continue to cop it, but more so at the front end of the curve. You can see from the graph below that the +1m contract is roughly the same as it was in July 2023... but a full $10 has been gained over the backend contracts.
Note the current contract is due for delivery now and isn't trading much anymore and thus the odd looking price spike there.
Iron ore price, page-51593
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Last
$21.41 |
Change
-0.260(1.20%) |
Mkt cap ! $65.92B | |||
| Open | High | Low | Value | Volume |
| $21.52 | $21.67 | $21.30 | $150.5M | 7.000M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 93 | $21.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.41 | 12657 | 3 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| FMG (ASX) Chart |