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
Add FMG (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$18.97 |
Change
-0.300(1.56%) |
Mkt cap ! $58.40B | |||
| Open | High | Low | Value | Volume |
| $19.01 | $19.33 | $18.71 | $210.2M | 11.07M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1879 | $18.95 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.97 | 39173 | 3 |
View Market Depth
| Last trade - 16.10pm 09/10/2024 (20 minute delay) ? |
| FMG (ASX) Chart |