Anything can happen in the short term given the unprecedented bearish market sentiment, but over the medium term I trust that the natural floor that people frequently talk about is real(ie the domestic IO producer in PROC with about 30% of the market share have lower grades and generally smaller scale so are becoming costly at around $90-120 per tonne). This will effectively put a floor in the price at around $120-130.
I went back and looked at the presentation to the Australian Stockbrokers Assoc on 30/5/2012,p20 graph on price. It shows two strong price rebounds from about $118/T, so I hope that repeats for a third time.
FT
Anything can happen in the short term given the unprecedented...
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$18.27 |
Change
-0.290(1.56%) |
Mkt cap ! $56.25B | |||
| Open | High | Low | Value | Volume |
| $18.70 | $18.72 | $18.21 | $313.4M | 17.09M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 45418 | $18.27 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.30 | 1200 | 1 |
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