Iron ore was up again today and closing in on $120.
The 3rd quarter production report is due next week so shorts will now have no choice but to cover or risk increasing losses as the share price closes in on $6 again.
Reuters are also reporting a decline in Chinese steel stocks so it seems end user steel demand is now increasing in China which will provide support for the iron ore price.
If we get a further debt reduction announcement with the 3rd quarter production report share price will exceed the recent $6.20 highs.
iron ore up $1 today to $118.20
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Last
$18.14 |
Change
0.020(0.11%) |
Mkt cap ! $55.74B | |||
| Open | High | Low | Value | Volume |
| $17.90 | $18.75 | $17.75 | $171.0M | 9.460M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 1701 | $18.10 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.14 | 66073 | 5 |
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| Last trade - 16.10pm 12/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |