I am expecting a peak FMG price of $7-$8 say $7.50, between 11 and 15 Feb if Vale are not successful in appealing the additional mine shutdown. Based on similar charts for Rio in 2008 and other squeezes such as VW. Ok there is less happening with FMG than with Rio in the day but the estimate is $7-$8 not $12......I think there was a potential takeover offer for Rio also, imagine that for FMG! Estimate will go up if further Vale forced closures / shutdowns occur. Sold half my FMG to crystalise profit at $4.93 as I was quite overweight, regretting that now. But still plenty to stay happy about.
Iron ore price, page-9683
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Last
$22.10 |
Change
0.100(0.45%) |
Mkt cap ! $68.04B | |||
| Open | High | Low | Value | Volume |
| $21.99 | $22.22 | $21.87 | $84.79M | 3.834M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 9803 | $22.09 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $22.11 | 10620 | 3 |
View Market Depth
| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |