Has now hit a high of $0.326/dmtu as mills continue their preference for lumps over fines. This was unbelievably at a record low in April of $0.01. Ago has forecasted to produce up to 3.8m tonnes of lump product in FY18.
This means that although there may be a large discount for its fines product compared to the 62% fe index, its lump product at the current premium would get about usd 18 premium. It's very significant and perhaps explains the director buying today.
AGO Price at posting:
2.1¢ Sentiment: Buy Disclosure: Held
