FMG 0.67% $22.10 fortescue metals group ltd

IO price heading into 70's

  1. 43 Posts.
    From Reuters

    "SINGAPORE, Sept 19 (Reuters) - Shanghai steel futures fell more than 2 percent to a record low on Friday and were headed for their sixth straight weekly fall amid sluggish demand in top consumer China, putting more pressure on prices of raw material iron ore."

    At this momentum, IO spot will be into the 70's next week. At break even at 78, I wouldn't be long on FMG.
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Last trade - 16.10pm 05/03/2021 (20 minute delay) ?
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