This is a classic worldwide industry shakedown by those who have the capacity to create a glut in IO (BHP, Rio, Vale) to drive competitors to the wall while still keeping profitable themselves. Keep the pressure on for 6-12 months, then hoover up the carnage at bargain prices. There is no thought in their heads about Australia and its economy or how it will effect the average person.
But... BHP is likely to come out far stronger, in a far better position as production decreases due to smaller players folding, mothballing etc. Watch their SP in the next 18-24 months. As always, it is a cyclical industry. We have just become so used to the unusually long boom in mining that we forgot about the bust part.
My opinion only. DYOR.
Oz economic bust thanks to Big Australian, page-10
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Last
$43.40 |
Change
-0.160(0.37%) |
Mkt cap ! $220.1B | |||
| Open | High | Low | Value | Volume |
| $43.11 | $43.56 | $43.09 | $248.4M | 5.730M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 5716 | $43.37 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $43.41 | 4801 | 2 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| BHP (ASX) Chart |