Despite today gain in fmg share, due to the announcement of increasing ore resources, it does not offset the future of IO price for the next few months.
The question remains, not on how much iron resources it has, but how the demand of iron ore trends.
It is strong positive sentiment about FMG today. Good for the holder, but don't forget the possibility of temporary market manipulation. Is it possible for fmg value to increase 4%, based on announce of new resources, when iron ore demand is slumping?
One concern is due to the start of winter season, in the second half of the year, when construction/real estate activity will decrease significantly and the steel level needs to be de-stocked
weak china steel demand will continue!
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Last
$21.63 |
Change
-0.040(0.18%) |
Mkt cap ! $66.59B | |||
| Open | High | Low | Value | Volume |
| $21.48 | $21.63 | $21.02 | $156.6M | 7.309M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2129 | $21.60 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.63 | 817 | 1 |
View Market Depth
| Last trade - 16.10pm 26/06/2024 (20 minute delay) ? |
| FMG (ASX) Chart |