The Singapore traded China 62% FE futures are good to watch too in real time - not much change from the big drop yesterday
FEX oversold IMHO - "sell at any price". The hedging will help for sure.
Too long at these prices and supply will start to be cut from mid tier producers - we know under USD100 is problematic and USD80 will see mines shuttered rebalancing supply/demand.
The AUD will likely decline in risk off (iron ore exports even more than interest rates) - Sept/Oct not seasonally great for equities or risk taking - add in US presidential elections. Note equities usually rally in US (the global risk proxy) post elections - stability with Harris or pro business with Trump
The Singapore traded China 62% FE futures are good to watch too...
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Last
27.5¢ |
Change
0.010(3.77%) |
Mkt cap ! $198.1M | |||
| Open | High | Low | Value | Volume |
| 26.5¢ | 28.8¢ | 26.5¢ | $1.291M | 4.643M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 18179 | 27.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 28.0¢ | 68796 | 1 |
View Market Depth
| Last trade - 16.10pm 08/10/2024 (20 minute delay) ? |
| FEX (ASX) Chart |