Price has stabilised. Perfect buying opportunity. Shorters might get lucky, however in my opinion there is more upside opp than downside risk, short and be prepared to cover big time. Get squeezed out and pay the consequences.
2nd half of the year will be more positive for iron ore prices as ore stock piles reduce, demand will increase and the price of ore will bounce. China steel manufacturers will be forced to consolidate, there is more talk about Chinese gov stimulus.
This favours our iron ore producers who have already taken a big knock, I still see buying opportunities. End of this year. Fmg over $6
weak china steel demand will continue! , page-42
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Last
$16.99 |
Change
-0.350(2.02%) |
Mkt cap ! $52.63B | |||
| Open | High | Low | Value | Volume |
| $17.25 | $17.30 | $16.98 | $65.53M | 3.817M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 27 | 32228 | $16.98 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $17.00 | 23829 | 21 |
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| Last trade - 14.58pm 19/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |