Merrill Lynch has declared major two has failed their strategy of forcing smaller miners out of market by overproducing ore.
it has downgraded BHP and Anglo American, therefore caused Friday slump not only in smaller miner like BCI, but BHP and RIO as well.
so Merrill Lynch's verdict is the marginal producers can keep hanging on for as long as ore trades above $60 to $70 per tonne.
in the meantime, IO spot price still hanging above US$70:
china stock market has gone up about 20% over last fortnight, and forecasting a further two or more rate cutting is on the card as soon as mid of Dec to boost chinese new year. by the way, the last 40 basis cut has failed to reduce Shanghai interbanking lending rate, which is another reason for another deep cut should be on the card very soon.
in the meantime, AUD down again to just above 83c.
I think next Monday or Tuesday, BCI will have another market update on its cost cutting, should at least match AGO's formula if not even deeper.
on another note, I heard rumour around Twiggy is willing to sell stake to its chinese partner to cut the debts.
- Forums
- ASX - By Stock
- BCI
- Just how angry are we?
Just how angry are we?, page-7
-
-
- There are more pages in this discussion • 18 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 BCI (ASX) to my watchlist
(20min delay)
|
|||||
Last
22.0¢ |
Change
-0.005(2.22%) |
Mkt cap ! $634.5M |
Open | High | Low | Value | Volume |
23.0¢ | 23.0¢ | 22.0¢ | $1.106M | 4.915M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
12 | 176953 | 22.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
22.5¢ | 40304 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
12 | 176953 | 0.220 |
8 | 604801 | 0.215 |
4 | 171432 | 0.210 |
4 | 296692 | 0.205 |
6 | 121650 | 0.200 |
Price($) | Vol. | No. |
---|---|---|
0.225 | 40304 | 1 |
0.230 | 50000 | 1 |
0.235 | 166267 | 7 |
0.240 | 163346 | 4 |
0.245 | 276416 | 9 |
Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
Featured News
BCI (ASX) Chart |
The Watchlist
LU7
LITHIUM UNIVERSE LIMITED
Alex Hanly, CEO
Alex Hanly
CEO
SPONSORED BY The Market Online