FMG wants to expand because they are talking to multiple steelmakers in China, not just a couple of the big ones like Baosteel that RIO and BHP deal with. So it is important for them to ramp up production as fast as possible. It is all about volume. There will be reasonable prices for their ore that's not a problem. Demand is very strong and Fortescue has planned for expanded production and subsequent sales - there is no oversupply, China will take all that they can. They have not listed in China, only mooted as a possibility. Also, they are trading at $3.00 which is effectively $30.00 before the 10 for 1 share split 18months or 2 years ago.
shanghai listing eyed, page-9
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$19.96 |
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Mkt cap ! $61.45B | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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| Price($) | Vol. | No. |
|---|---|---|
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