When the speculators have finished panic selling, and the mills eat through their stock and need to return to the market rather than sitting and waiting for the price to fall further.
This is a game thats played every so often, the inventories are increased making the price rise, then they destock as the price falls, but the use huge amounts of ore every day, 24 hours a day, they need to return to market eventually.
Iron ore price, page-582
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Last
$26.98 |
Change
-0.260(0.95%) |
Mkt cap ! $83.43B | |||
| Open | High | Low | Value | Volume |
| $27.24 | $27.25 | $26.88 | $44.84M | 1.658M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 1508 | $26.97 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $26.99 | 3678 | 15 |
View Market Depth
| Last trade - 13.38pm 21/05/2024 (20 minute delay) ? |
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Last
$27.02 |
Change
-0.260 ( 1.06 %) |
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| Open | High | Low | Volume | ||
| $27.25 | $27.25 | $26.89 | 362516 | ||
| Last updated 13.57pm 21/05/2024 ? | |||||
| FMG (ASX) Chart |