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wow massive sell this morning... did not move the share price much.
12:26:38 181.85 394,968 Sell* 181.70 182.10 718.25k O
I've bought some more today - Iron prices are on the up.
IRON ORE MONTHLY: 65-62% Fe spread narrows further
High steel production rates in China and confidence in the country’s economic performance sustained iron ore prices in July, though the high-grade 65% segment grew at a slower pace compared with the mid-grade one amid an increase in shipments from Brazil.
Several sources also said that an increase in the supply of the US dollar as a result of recent stimulus measures had served as an underlying force that stimulated prices for commodities such as iron ore and copper.
Prices for 62% Fe iron ore averaged $107.67 per tonne cfr last month - a 5% month-on-month increase - while those for 65% Fe products averaged $119.53 per tonne cfr - 3.5% higher.
The spread between 65% Fe and 62% Fe narrowed for a third month.
Hoping we will rise tomorrow.
Iron price - Of recent world tries to spend out of recession - infrastructure positive - however could see a Europe and US reduction in new builds due to covid. However i believe we will announce further expansion funded by existing cashflow which will offset any weakening of the iron price - if thats the case then brokers are wrong. Still believe this will bounce up tomorrow. Originally i said towards 300p a couple of months ago and tbh i dont see anything that changes my view. If anything the lack of dividend on traditional business should be a positive here despite the ukraine and owner risk.
Ive said it before and still believe it to be true - the risks on FXPO are diminished when you look at the risks on traditional divi paying "safe stocks" - easy to say they will recover, but when? FXPO has 10 years of almost perfect operational performance and earns strong cashflow - easy to tempt an income fund manager in this day and age.....
I expect this to be down today, maybe some tree shaking. Hopefully tomorrow after the H1 results this will have a nice move higher. I am guessing if the results are over 25% better than last year then I can expect this to be around £2 plus. Might take a few days to move past £2 though.
Sp seems to be listening and we are heading north which is nice to see. I'm settled in here anyway looking at the divi going forward and the fact there is pretty much nothing anywhere else. Divi payments are just disappearing by the day and everyone is stuck in their shares awaiting a hopeful return which doesn't look soon.
I agree raw material prices aren't reacting badly as china keeps going and customer base for fxpo is globally all over the place. I might buy a few more in the morning. Gla
In regards location and share holder, might regret my word but this doesn't bother me, it won't bury the company.
FE 65% @125.25... can not wait till Wed. I hope the results blow it out of the water..
Date Seaborne index 58% Fe fines Seaborne index 62% Fe fines Seaborne index 65% Fe fines
2020-08-03 85.80 116.25 125.25
2020-07-31 81.30 111.75 122.75
2020-07-30 80.60 110.95 121.95
2020-07-29 80.50 110.75 121.85
2020-07-28 77.70 107.95 118.85
2020-07-27 77.50 107.75 118.55
2020-07-24 79.10 109.35 120.15
2020-07-23 80.60 110.75 121.45
2020-07-22 80.40 110.45 121.45
2020-07-21 81.20 111.45 121.95
2020-07-20 79.90 109.95 120.85
2020-07-17 80.70 110.65 121.95
2020-07-16 80.70 110.55 121.95
2020-07-15 82.70 112.15 123.85
2020-07-14 82.20 111.55 123.55
2020-07-13 81.80 111.05 123.05
2020-07-10 77.20 106.15 119.95
2020-07-09 77.20 106.15 119.95
2020-07-08 76.90 105.75 119.95
2020-07-07 73.80 102.45 116.85
2020-07-06 72.10 100.55 114.95
2020-07-03 71.70 100.05 113.55
2020-07-02 71.20 99.55 112.85
2020-07-01 71.20 99.75 112.65
2020-06-30 71.90 100.45 113.35
2020-06-29 71.20 99.55 112.55
2020-06-28 74.90 103.05 115.95
2020-06-24 74.90 103.05
China has been setting new output records for crude steel:
https://auto.economictimes.indiatimes.com/news/auto-components/china-daily-crude-steel-output-hits-new-record-in-june-on-robust-demand/76994417
the problem is that the brokers are rarely right and the other problem is they are predicting that iron ore price will go down much lower in the next 6 months ( how wrong were they about Gold and Silver even less that 12 months ago) which I do not agree with for the following reasons, massive job losses because of the covid nonsense. USA, China and UK plus Germany and other major G20 have said that they will build build build to create jobs which will help to curb recession, so I do not see Iron ore staying low over the next 6months. Plus an arms race is starting to heat up and their are massive tensions between the US and China so you can bet your bottom dollar that they are heavily stockpiling on key commodities.
It's strange, results suggest and show the business is doing well, brokers suggest lower price poorer times to come. I think based on how, type and what they sell the selling price and margin is good, customers everywhere as quality high.
Not sure where the sp is going, I want to see huge rises in dividends paying out.
3 pounds
Hi Marsym, surely that has to be good new before the first half results on Wed ? I am hoping this will move well above 2£ soon. Thoughts ?
Ex-People's Deputy Konstantin Zhevago, accused of embezzling the property of the Finance and Credit Bank and wanted by the DBR, has returned to Ukraine.
This was announced on Facebook by People's Deputy "Servants of the People" Geo Leros.
"Oligarch Zhevago has returned to Ukraine and the terms of the 'agreement' to end his prosecution in criminal cases involving large-scale corruption are being finalized," he wrote.
I listened to a podcast yesterday which highlighted the issues arising in China due to flooding of the Yangtze river. It is not being reported but the implication was that China output will be affected which may affect iron ore consumption.
KaZ has produced an excellent report and their Sp has gone down today. will it be the same fate for FXPO?
Sorry General Levy you must be right. It must be Wed. Well, all Iron Ore 65FE is up again today and Wed are the half year. Iron ore has been selling up high this year. I am expecting a good increase in production and future production plus a increase in production as well as much higher profits for 2020H1... any comments welcomed ? PS I can not believe it is so crazy low.
Would have thought it will match their diary. Seem to constantly get knocked on sp valuation from brokers, divi announcement and increase next week would be good? If we see a change in iron prices has the company done enough to keep the high cash numbers coming?
Pretty sure it’s on the 5th on Wednesday as per their financial calendar on the website
half year results on Tuesday of next week I think. I am hoping for a really good update which should hopefully move it past £2.. The major shareholder just needs to clear his name once and for all or sell his stake to someone decent.
FRES money moving into FXPO today. We should see a steady rise to results. I am hoping for at least £2.50/sh
I'm referencing the 35% divi tax from Switzerland. Spoke with hl, they offer divi vouchers back which show details of the divi and tax paid for isa shares. When I said can I have the same for sipp they said it's not possible to get it rebursed from this account.
Therefore overtime I'm going to change my shares in isa and sipp so I can claim more back through isa and buy more uk based ones in sipp which don't have the extra tax implications
owls
When you begin to draw an income from your SIPP, it is taxable at standard income tax rates.
Will you not have to pay tax if you sell your SIPP ?
Yes it’s a strange, current dynamic. Everyone looking for safety, yield in gold and silver? Fxpo seems to be churning it out and countries want to keep going by managing Covid which is working in some areas but not others.
Really strange play, I’m going to swap my Sipp shares for isa, sell sipp and buy more in isa as you can’t get the tax back on sipp but more than possible in isa. Gla
Gold, Silver, iron ore mining is deffo the place to be. Results next week will reveal all. Fingers crossed for a knock at £3/sh door in the near future...;o))
Good news about the ceasefire https://www.rferl.org/a/eastern-ukraine-ceasefire-conflict-russia-/30748183.html
One less thing to weigh down the SP.