Look to where we are on the current five year plan for China.
According to the forecasts we are in year two-a time when steel demand is meant to plateau as they move across to the services industries away from from infrastructure development.
Already the iron ore supply from the likes of BHP, Vale and Rio can meet their medium to long term requirements-limited growth, maintenance.
The likes of FMG can best be described as the median cost producer to keep a lid on iron spot prices, i.e. let FMG survive but only just!
This is typical of bulk commodity pricing over the longer cycles-same thing happened when Japan , then Korea moved into the bulk markets.(Coal, aluminium are the same).
Cheers, TAS
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$21.63 |
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-0.040(0.18%) |
Mkt cap ! $66.59B | |||
| Open | High | Low | Value | Volume |
| $21.48 | $21.63 | $21.02 | $156.6M | 7.309M |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2129 | $21.60 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.63 | 817 | 1 |
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| Last trade - 16.10pm 26/06/2024 (20 minute delay) ? |
| FMG (ASX) Chart |