To all of you above that say the iron ore price cycle has finished - it hasn't. Marius Kloppers as CEO of BHP famously predicted that IO wouldn't drop below USD100 because this time it was different due to the Chinese production. He was wrong and it dropped into the USD40s.
Then pre covid many punters predicted it wouldn't fall below USD100 but guess what it collapsed (and FMG went well below $10).
Then economists predicted permanent low inflation and hence permanently low metal prices but guess what IO established new highs above USD200.
IO will fluctuate between say USD80 and 200 based on history. It could overshoot on the upside or downside but basically that's the range based on history.
if any of you are buying on the assumption we will never see IO at USD80 again then be careful you're betting against history.
the old "this time its different" line has a bad record of being wrong.
To all of you above that say the iron ore price cycle has...
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$21.41 |
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Mkt cap ! $65.92B | |||
| Open | High | Low | Value | Volume |
| $21.52 | $21.67 | $21.30 | $150.5M | 7.000M |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 93 | $21.40 |
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| Price($) | Vol. | No. |
|---|---|---|
| $21.41 | 12657 | 3 |
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| FMG (ASX) Chart |