I am glad you dug this up which I commented on months before. I have no doubt we will see a "5" in the iron ore price before Xmas.
I am very sure that upon the breaking news of the first Pilbara iron ore carrier being told it can't unload indefinitely, the IOP will fall $30 in one day. This reminds me of the height of the fears during the GFC when panic set in where contracted benchmark cargo were turned away as spot price plummeted.
Similar to what someone said, the equivalent volume of the entire BHP iron ore production will have nowhere to go if China has really prepared a massive domestic IO capacity ready to go.
I am glad you dug this up which I commented on months before. I...
Add FMG (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$19.21 |
Change
0.240(1.27%) |
Mkt cap ! $59.56B | |||
| Open | High | Low | Value | Volume |
| $19.11 | $19.40 | $19.11 | $36.02M | 1.867M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 1973 | $19.21 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.22 | 4113 | 12 |
View Market Depth
| Last trade - 11.34am 10/10/2024 (20 minute delay) ? |
| FMG (ASX) Chart |