This is the part that people always get wrong about Rio and BHP and what they were looking to do.
What happens when the cost curve flattens and the high cost producers get forced out.
Prices fall.
And if low cost supply keeps growing, the high cost producers aren't needed again. So prices don't get back to the prior highs.
The flat "curve" is a disaster for those who were at the bottom before FMG transformed itself. A pyric victory for FMG as well.
Iron ore price, page-752
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Last
$21.40 |
Change
-0.010(0.05%) |
Mkt cap ! $65.96B | |||
| Open | High | Low | Value | Volume |
| $21.49 | $21.56 | $21.32 | $14.93M | 687.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 3348 | $21.39 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.40 | 703 | 4 |
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| Last trade - 10.49am 01/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |