BWA,
The contracts are pretty much worthless. IO, scrap etc all having "contracts" canceled either because the buyers can't raise LCs, or they simply want to cancel. There is no jurisdiction to enforce the "contracts"; the buyers have no assets in Australia, and good luck suing in China/Korea/ Taiwan.
Most sellers of hard commodities into Asia are struggling; best evidence; WA-China IO freight was $US50 / tonne in June. Last deal done was $US7. Bet your house 2 of the next 3 deals will be even lower.
why is mgx slaughtered so ruthlessly, page-13
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Last
43.5¢ |
Change
0.005(1.16%) |
Mkt cap ! $528.4M | |||
| Open | High | Low | Value | Volume |
| 43.0¢ | 44.5¢ | 42.8¢ | $959.2K | 2.205M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 4985 | 43.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 44.0¢ | 192573 | 3 |
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| Last trade - 16.10pm 04/07/2024 (20 minute delay) ? |
| MGX (ASX) Chart |