Disagree with you, Fmg did see this coming. They were trying to do a JV with Vale for a blended product which had a higher quality.
I believe Nev Power got it wrong in his assumptions that the discount between the various grades would narrow over a time without understanding the structural changes in the market. Fmg will still make mammoth profits, China still needs steel, FMG are expanding their markets, paying down debt, reducing costs, can diversify into other commodities. This sp is a joke.
$10 in 3 years.
$30 in 10 years.
Disagree with you, Fmg did see this coming. They were trying to...
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Last
$19.76 |
Change
-0.220(1.10%) |
Mkt cap ! $60.84B | |||
| Open | High | Low | Value | Volume |
| $19.66 | $19.80 | $19.20 | $191.1M | 9.763M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 4673 | $19.73 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.76 | 31740 | 2 |
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| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| FMG (ASX) Chart |