My reasons:
Vale bringing on low-cost capacity, combined with fall in Real, will make FMG the marginal producer
China imports 2/3 of the world's iron ore, but one of their biggest met coal producers (Longmay) just sacked 100,000 of their 240,000 staff. Nobody believes their 7% GDP growth numbers
Based on current FX, FMG owes over $10B AUD
Losing money and can't pay the mortgage. I believe shares will go to zero eventually but comfortable predicting $1 by EOFY16, 50c certainly possible.
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My reasons: Vale bringing on low-cost capacity, combined with...
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$17.06 |
Change
-0.260(1.50%) |
Mkt cap ! $52.61B |
Open | High | Low | Value | Volume |
$17.11 | $17.23 | $17.02 | $82.38M | 4.775M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
20 | 5283 | $17.05 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$17.06 | 8697 | 17 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 2543 | 17.060 |
24 | 12995 | 17.050 |
16 | 15286 | 17.040 |
12 | 20877 | 17.030 |
16 | 19023 | 17.020 |
Price($) | Vol. | No. |
---|---|---|
17.070 | 5749 | 9 |
17.080 | 13137 | 14 |
17.090 | 13696 | 14 |
17.100 | 10096 | 12 |
17.110 | 14913 | 13 |
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