Low prices cure low prices just like high prices cure high prices.
If it goes too low the buyers would be cutting their own throats as then who would be producing enough to meet their demands?
You need competition in the market place and there is a sweet spot for prices, sometimes they overshoot both ways as companies/govts try to manipulate the markets with their policies.
Reading a few investment papers recently $75/ton seems to be where Chinese would like to price to be instead of $110/ton but that's all guess work as far as anyone can predict the future.
Its always clearer in the rear vision mirror as opposed to the windscreen.
Low prices cure low prices just like high prices cure high...
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Last
$21.43 |
Change
-0.470(2.15%) |
Mkt cap ! $66.30B | |||
| Open | High | Low | Value | Volume |
| $21.77 | $21.80 | $21.34 | $131.4M | 5.719M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 1544 | $21.42 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.43 | 2466 | 12 |
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| Last trade - 11.58am 21/06/2024 (20 minute delay) ? |
| FMG (ASX) Chart |