Can't speak for RIO but I know a little with FMG. With FMG, there are seasonal ups and downs if you view a yearly chart that also follows IO price Change now is the unknown of the FFI impact, is it priced in? What are the financial implications - costs / revenue? Then you also have IB under development / nearing completion that will give FMG a better quality product and higher price achieved which is what the market wants moving forward.
Then you factor in short position holdings and small movements become larger quite quickly as they cover their exposed positions.
