Yes there has been a definite swing back towards the buyer rather than the seller,that is reflected in the current IO price.
Chinese do look at the longer term and so should we. This downturn really plays into those long term plans, and I would not be surprised if Chinese IO mine ownership (outside of china) increases substantially over the coming year or two.
But they also do a lot of manipulation and propaganda reporting when it comes to business. They are masters of it.
With the 10 MOUs signed by FMS with Chinese steelmills we may be in a good position to secure long term quality supply and contracts for these steelmills...independent of the majors. the opportunities are not lost...the projected start up date is surely a positive thing and may assist in seeing FMS through the bottom of the cycle.
We should also not limit ourselves to just china, Gina Rhinehart secured offtake agreements with other Asian countries. We still have India who has not really started to build their modern infrastructure....
The trick in any down turn is to pick the bottom of the cycle to invest. When you start to see mining and resource companies being brought up by Chinese interest or fund managers (circling) you know it is the bottom or close to the bottom. It has already started with Blackrock and Forge. It will be the high grade producers that will survive.
Batton down the hatches....
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Last
81.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $161.8M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 2 | 83.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
77.0¢ | 1 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 156 | 0.810 |
1 | 625 | 0.800 |
1 | 4339 | 0.780 |
1 | 5000 | 0.670 |
1 | 10000 | 0.650 |
Price($) | Vol. | No. |
---|---|---|
0.820 | 481 | 2 |
0.835 | 29996 | 1 |
0.840 | 1496 | 2 |
0.850 | 10000 | 1 |
0.860 | 57991 | 3 |
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