Seems IO miners are oversold, an emotional reaction. I can't see the majors spending so much to expand over the next few years if price 'is going to collaspe', they would surely have fairly accurately done their homework on future IO prices. Probably will fall medium term to around $120/ton or thereabouts (as 'predicted') in which case they are still making very good margins. I think now we're seeing a typical oversold reaction to the miner's share prices
supply and demand, page-26
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Last
$19.55 |
Change
0.050(0.26%) |
Mkt cap ! $60.19B | |||
| Open | High | Low | Value | Volume |
| $19.98 | $20.30 | $19.51 | $184.3M | 9.305M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 2568 | $19.51 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.56 | 44282 | 3 |
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| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |