The iron ore price(dalian etc) is a tradable exchange not an actual physical buy of ore. This exchange is obviously open to manipulation and fear linked to the Chinese shanghai index. Does the last week not prove without any doubt this is not a fair or reliable way to view the long term profitability of BCI. As little as a week ago BCI were getting $60 per tonne. Down 10% overnight based on what metric? trading alone is the answer.
Iron ore has to be over $55 or so or there will not be enough supply. BHP, Vale, rio, fmg and Gina Rhinoserous do not have enough capacity to supply the hungry steal mills.
Lets be positive with IO, page-8
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Last
31.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $908.9M | |||
| Open | High | Low | Value | Volume |
| 32.0¢ | 32.3¢ | 31.3¢ | $113.8K | 358.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 16 | 395101 | 31.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 31.5¢ | 20706 | 1 |
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| Last trade - 16.10pm 18/10/2024 (20 minute delay) ? |
| BCI (ASX) Chart |