WA Weak Outlook for Iron Ore...

Discussion in 'Where to Buy' started by Who???, 22nd Mar, 2021.

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  1. Who???

    Who??? New Member

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    Have seen this phrase popping up a fair bit lately. FMG has been getting clobbered and for some reason it makes me think of the Perth property market as well. What's everyone think about that? Perth seems like a large mining town to me, and more than a bit at the mercy of iron ore prices.
     
    Who???, 22nd Mar, 2021
    #1
  2. Cmelderis

    Cmelderis Well-Known Member

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    What do I think, that maybe I should buy some FMG shares while they are down ;)
     
    Cmelderis, 23rd Mar, 2021
    #2
  3. Millie

    Millie Well-Known Member

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    WA is not just iron ore.
    • Commodities
      Aluminium; Aluminum, Base metals, Bauxite, Cesium, Chromium, Coal, Cobalt, Copper, Diamond, Fluorite, Garnet, Gold, Graphite, Gypsum, Iron, Kaolin; Kaolinite, Lead, Limestone, Lithium, Magnesite, Manganese, Molybdenum, Natural gas, Nickel, Niobium, Palladium, Phosphate; Phosphate rock, Platinum Group Elements; Platinum Group Metals, Potassium, Rare earth elements, Silica sand, Silver, Talc, Tantalum, Tin, Titanium, Tungsten, Vanadium, Zinc, Zirconium
     
    Millie, 23rd Mar, 2021
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  4. Redwing

    Redwing Well-Known Member

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    Iron ore price breaks $US200/tonne

    Iron ore prices have hit another record mark, surpassing $US200 ($259) per tonne to outdo last month’s historic high.
     
    Redwing, 7th May, 2021
    #4
  5. Mulianto

    Mulianto ~~

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    Amazing... but be grateful while it lasts
     
    Mulianto, 7th May, 2021
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  6. Piston_Broke

    Piston_Broke Well-Known Member

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    FMG has been doing great.
    I've been selling out of the money puts on the dips.
    Everyone has been bearish on them for a while and major funds divested, and yet it' earning keep growing.
    Prices will fluctuate but there's no reason for Iron ore demand to wain next few years.
    The risk is China stops imports.
     
    Piston_Broke, 7th May, 2021
    #6
  7. Mark F

    Mark F Well-Known Member

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    I understand that part of the high iron ore price is Vale being unable to deliver normal quantities of Brazilian iron ore. Ultimately that supply will resume and may well be favoured by China in order to exacerbate the economic pain to Australia. It will certainly lead to reduced prices.
     
    Mark F, 7th May, 2021
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  8. willair

    willair Well-Known Member Premium Member

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    Quote..
    In 2020, Australia remained the largest supplier of iron ore with 732Mt, up from 691Mt in 2019, mainly due to higher quality and favourable transportation cost,” says GlobalData mining analyst David Kurtz. “China imported 313.8Mt of iron ore from Brazil, South Africa, and India put together, which is less than half of what China imports from Australia.”

    How China is moving beyond Australia for its iron ore hunger

    The battle for Simandou
     
    willair, 7th May, 2021
    #8