yeah, io rock solid lately.
A wide range of commodities have fallen off their perch but mainly those played by hedge funds. Their prices reflect lots of speculation.
There are some positive for fmg:
- io price stronger, longer than expected
- AUD dropping due to commodity sell off
- quarterly coming, hopefully showing lower cost profile and ramping up of volumes
- the china numbers may encourage more government stimulus, read building things using iron ore
Of course, I don't expect the markets to discriminate today. More opportunity to accumulate.
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