Spot Steel Prices continued to fall this morning in China:
Tangshan market closing prices (in yuan):
Billet 2750 -
Strip 2890 ↓80
Wire 3000 ↓20
Rebar 3170 ↓10
Profile 3020 ↓50
Hot Roll 2920 ↓30
Mid Thick Sheet 3110 ↓50
Tube 3160 ↓90
Chinese IO 675 -
Seaborne IO 500 ↓5
Average prices of new homes in 70 Chinese Cities rose 11.3 percent year-on-year in March of 2017. On a monthly basis, new home prices rose 0.6 percent from February. Chinese government spokesperson said effects of the "housing restrictions policies" would most likely to show after April. IO / SR Future went up a bit after the data, but faded after knowing still a tough few months ahead for the Steel Sector.
I can't see the IO price "bottom" yet, I think without "demand", we need IO price to head down much lower to get rid off "high cost" Indian and Chinese IOs. Currently Chinese IOs are still selling US$70+, another fall of US$10-15 they will definitely start to exit.
FMG need to improve their "discount", unfortunately it's the Market pretty much determine that.
DYOR.
Frank.
- Forums
- ASX - By Stock
- FMG
- Iron ore price
Iron ore price, page-735
- There are more pages in this discussion • 51,644 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add FMG (ASX) to my watchlist
(20min delay)
|
|||||
Last
$23.30 |
Change
-0.300(1.27%) |
Mkt cap ! $71.63B |
Open | High | Low | Value | Volume |
$23.38 | $23.40 | $23.25 | $36.58M | 1.569M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
27 | 6944 | $23.29 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$23.31 | 6430 | 22 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
22 | 3553 | 23.290 |
21 | 7419 | 23.280 |
17 | 4945 | 23.270 |
27 | 14238 | 23.260 |
30 | 22431 | 23.250 |
Price($) | Vol. | No. |
---|---|---|
23.300 | 1368 | 10 |
23.310 | 6336 | 18 |
23.320 | 3619 | 13 |
23.330 | 3271 | 10 |
23.340 | 3074 | 10 |
Last trade - 12.10pm 12/06/2024 (20 minute delay) ? |
|
|||||
Last
$23.33 |
  |
Change
-0.300 ( 1.46 %) |
|||
Open | High | Low | Volume | ||
$23.37 | $23.40 | $23.25 | 367422 | ||
Last updated 12.31pm 12/06/2024 ? |
Featured News
FMG (ASX) Chart |