Iron ore price, page-52713

First 52713 Last

Share
Profile

Follow
Gordy56

750 Posts.

260

25/06/24

09:05

Post #: 74471920
Share

Originally posted by OwenPlace: ↑

Some numbers for people to consider for Q3 FMG shipped 43.3T bringing the running total of IO shipments for the year to 31/3 at 137.9T (FY guidance 192-197). The figures tell us for FMG to attain the top end of guidance a total of 59.9T ought be shipped in Q4 for the bottom end 54.9T, these higher quarterly targets were a direct consequence of the FMG IO train derailment in December.

It is important to note FMG Management at their March 24 quarterly indicated they would achieve their FY guidance, from weekly data provided by MySteel it would appear FMG will deliver as suggested and will be rewarded at the appropriate time.

As you maybe aware in this reporting period the other major IO suppliers had their own disruptions the IO Price spike reflected that at the time (potential shortage) however the disruptions were short but the ramifications lingered ensuring a race to reach guidance was on for the major operators, this in my view is why we have a lower price at this moment, customers are in the drivers seat for now (supply and demand).

IMO there is more to FMG these days than IO patience is required, you decide.

Good luck to all…

Expand

I agree,with the ports data for April and May ,it looks like they are on track to produce the highest ever q4 result and just make guidance,which will be a great effort.
The other positive is that through WAE and Leibhur partnership,they will lead the World and their two Pilbara peers in the fossil fuel removal from operations.
Fmg is go despite the recent share action.
Gordy

FMG Price at posting: $21.26 Sentiment: Buy Disclosure: Held
9 Upvote

0 Great analysis

Reply

Top Stories

TLG

Talga Group wins key permit for flagship graphite mine in Sweden

SWP

Swoop lobs $18M offer at microcap telecom Vonex – in which it holds 19.9%

NVU

Nanoveu surges 10% after benchmark testing for new AI chip begins

Week 42 Wrap: HotCopper's top picks; new ASX 200 record; world yawns at war

M4M

Macro, Norden set up transport solutions initiative for West Pilbara

What's causing the cost-of-living crisis, and how to navigate it

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

SNX

Sierra Nevada raises $2M for silver exploration at Blackhawk

MTH

Mithril's drilling in Mexico picks up silver at 997g/t, gold at 28g/t

IRX

InhaleRX snags $38.5M in funding from VC biotech funder Clendon