The case for iron ore
Through the back end of 2023 unexpectedly high rates of steel production, low stockpiles and high steel export levels sent iron ore prices paid in China back to historically strong levels in excess of US$140/t.
They’ve slid back recently, falling to US$127.10/t on Friday as the Lunar New Year keeps demand in check.
But Forwood said there were plenty of reasons to think the iron ore market was in a stronger position than analysts gave it credit for, noting the role steel would also play in the energy transition alongside EV and electrification metals like nickel, lithium, graphite, cobalt and copper.
“It’s still a magnificent price,” he said, noting China was not keeping blast furnaces operating at high utilisation rates “just to keep people employed”.
DYOR please
Research Coverage Initiated - MST Access, page-58
-
- There are more pages in this discussion • 74 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add FEX (ASX) to my watchlist
(20min delay)
|
|||||
Last
28.0¢ |
Change
-0.015(5.08%) |
Mkt cap ! $201.7M |
Open | High | Low | Value | Volume |
29.0¢ | 29.0¢ | 28.0¢ | $504.6K | 1.767M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
10 | 329727 | 27.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
28.0¢ | 17490 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
10 | 329727 | 0.275 |
5 | 62137 | 0.270 |
3 | 415107 | 0.265 |
3 | 42578 | 0.260 |
5 | 122753 | 0.255 |
Price($) | Vol. | No. |
---|---|---|
0.280 | 17490 | 1 |
0.285 | 477069 | 2 |
0.290 | 202892 | 5 |
0.295 | 20000 | 1 |
0.300 | 291008 | 11 |
Last trade - 16.10pm 01/10/2024 (20 minute delay) ? |
Featured News
FEX (ASX) Chart |
The Watchlist
BM8
BATTERY AGE MINERALS LTD
Nigel Broomham, CEO
Nigel Broomham
CEO
Previous Video
Next Video
SPONSORED BY The Market Online