I think there's a big difference between 2008 and 2014.
In 2008 the Chinese decreased the amount of iron ore they were buying post-Olympics, because they were oversupplied in steel. The demand in the market fell while supply generally stayed the same so the price dropped.
In 2014 the Chinese are still buying as much iron ore (their demand is still increasing) but supply has greatly outstripped demand causing the price to drop. And supply is going to continue growing - even FMG is continuing to pump out more tonnes into an oversupplied market.
So the market appears rather different - in 2008 demand caused the price to fall, whereas in 2014 supply has caused the price to fall.
Worst case value 70- 92cent, page-52
-
- There are more pages in this discussion • 48 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add FMG (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$21.92 |
Change
0.350(1.62%) |
Mkt cap ! $67.49B | |||
| Open | High | Low | Value | Volume |
| $21.60 | $21.95 | $21.54 | $94.22M | 4.315M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1000 | $21.91 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.93 | 18370 | 7 |
View Market Depth
| Last trade - 16.10pm 03/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |