Chinese steel mills profits squeezed too much it seems!
.https://www.bloomberg.com/news/articles/2019-07-05/iron-ore-s-top-industry-group-calls-for-order-after-wild-rally
65% Fe back to around US$123/t - still a very good gross profit margin for CIA
For those interested; below is the Shanghai shipping index - the Brazil to China is the relevant index for CIA (US$22/t) but add about 40% for rate
out of Quebec due to the extra distance to the South Atlantic. Rates have spiked in recent days along with the IO price.
http://en.sse.net.cn/indices/cdfinew2.jsp
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Last
$4.51 |
Change
0.020(0.45%) |
Mkt cap ! $2.404B | |||
| Open | High | Low | Value | Volume |
| $4.56 | $4.57 | $4.49 | $3.042M | 673.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 11619 | $4.48 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.51 | 63 | 1 |
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| Last trade - 16.10pm 05/09/2025 (20 minute delay) ? |
| CIA (ASX) Chart |