Price and Chart HIO, page-37

The price of FMG has been factored in the green energy of their hydrogen operation. However, it is worth noticing the price of MGU aka green steel (PIG) producer rising over the last few days too.



P.S. MGU has its operation in the US, the infrastructure bill could also be a positive impact on its pricing.

I think HIO is currently on the right approach to change the narrative about their business to a green steel producer. There is not so much room to move in the HIO price chart. Classic divergence waiting for a breakout:



There is only limited iron ore (70%) in the world. Steel is needed everyday for buildings, bridges, roads, transportation and automobiles.