shanghai listing eyed, page-5

FMG ran on the back of a listing on Shanghai and potential capital coming out of China? I thought our treasurer made it pretty clear that he does not view favourably if foreign entities owned a stake of more than 19.9% in FMG.

I guess they have a way to get round with the Shanghai raising? Anyway, that is not a fundamental rise in share price. It is more a rise out of hope rather than a justification in the rise in earnings. Steel markets are still oversupplied globally.

Iron ore rices are expected to fall. We know that. The market is just trying to determine the magnitude of the fall now.

FMG has risen on the back of sentiment and not fundamentals. Possible access to Chinese capital, but as it stands, global steel markets are already suitably supplied and iron ore markets are starting to feel the pinch now. Not sure why FMG wants to still expand in the short term. That would put more long term pressure on iron ore pricing.