I don't think we'll have a repeat of 2016 prices.
The major producers shot themselves in the foot by focusing on production tonnes rather than profit and caused an oversupply.
High cost producers will go on care and maintenance long before price gets below $50 USD and the demand/supply balance will reset.
It would only take a $75 IO price @ 75% realisation for the FMG's IO division to make zero profit (back of the envelope calc) and the SP price would be much lower than $12
I don't think we'll have a repeat of 2016 prices.The major...
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Last
$17.34 |
Change
0.520(3.09%) |
Mkt cap ! $53.38B | |||
| Open | High | Low | Value | Volume |
| $17.31 | $17.51 | $17.00 | $309.6M | 17.18M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 300 | $17.33 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $17.35 | 28897 | 5 |
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| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |