I think there is something missing here. The IO contracts that FMG have/had with their customers included the freight. This effectively means both parties (FMG and its contracted customers) are both tied to these shipping contracts.
shipping contracts update, page-8
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Last
$18.56 |
Change
0.120(0.65%) |
Mkt cap ! $57.14B | |||
| Open | High | Low | Value | Volume |
| $18.34 | $18.68 | $18.30 | $218.7M | 11.78M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 57703 | $18.55 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.60 | 4301 | 2 |
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| Last trade - 16.10pm 29/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |