POSCO increased stake in MMX yesterday and FMG is being courted by Chinese steel makers.. have the Asian steel makers decided to make a move ? I think so.. market is ridiculously cheap for those who produce and ship IO. We could be close to a bottom in IO sector IMO. On thursday short selling rules relax which means any hedgies who have chosen to sit this out will be back and short covering rallies will eventually return. The weak will be especially vulnerable and by weak I mean anyone who falls into the exploration only (no prod).
Good luck all, I sense a change in the wind and I'm hoping the sails will fill up and take us out to sea away from the rocky shoreline.
outlook for highgrade iron ore is still bright, page-3
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Last
41.5¢ |
Change
0.005(1.22%) |
Mkt cap ! $504.1M | |||
| Open | High | Low | Value | Volume |
| 41.5¢ | 42.0¢ | 41.0¢ | $310.5K | 751.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 47000 | 41.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 41.5¢ | 20000 | 1 |
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| Last trade - 16.10pm 27/06/2024 (20 minute delay) ? |
| MGX (ASX) Chart |