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And again iron ore tests the $200 mark, just 20 cent off again, anywhere around these numbers seems pretty good. Nice average for March!! I think 17th is next divi update so looking good and I expect a steady climb towards £3.80 test to start anytime
i noted the new NED had quite a slant towards green initiatives and energy saving aspects. looking good, overall market heading higher over the week.
Looks like more companies are converting to DR pellets/Hot Briquetted Iron, good publicity considering we're already on the way to this with trial shipments going out last year.
https://www.mining.com/web/tycoon-usmanovs-firms-to-build-plant-for-greener-iron-products/
Regardless of whether supply for 62% and 65% stays static, the demand for the 67% is going to only get higher with more focus on carbon emissions, so should be good they're ramping up the quality product too.
I think iron ore demand is going to stay high, price high irrespective of retraces with exchanges. Going to be a fairly long, few year push of demand on infrastructure by many governments to keep the cogs going
Didnt notice you mean monthly average :) my bad
...Remember that we sell some 35% at china export price the rest will fetch a bit less/t..
Still it would be reasonable to think that for this quarter including premium we are making $220/t.
That's $2.64 billion revenue x year or nearly £1billion profit, depending on the $/£ exchange among other things.
Was interesting to see on Friday any other metal out there been hammered but not iron ore, copper down 3% .
Are we going to get a delayed drop in price? If so possibly will be short lived everybody is bullish on basic metals. The S&P index as finally reached the 3800 long support level running since the begin of the year. Any meaningful move below this level could trigger a panic selling and I suspect Fxpo wont be immune to this. US is about to pass the $1.9 trillion monetary easing and this will cheer the market and more importantly will keep the $ under pressure, all good for commodities.
Next couple of weeks will be interesting.
I’d say it’s a pretty important metric. The key to a big dividend and hopefully for much higher share price.
Easy Copy/Paste into excel and quick calc to find the averages over whatever period you want. Nice to know I'm not the only one tracking it robincherry1iclo ;)
You didn't read the word average, meaning over the course of the whole month, and over the whole two months.
yea, my bad. But not sure where hunter gets his $189 price
As the company looks ahead they’ll have so many on longer term and some volume short in order to maximise best price against volume
No it’s not. On the 26th it’s $199.8
I've been tracking the iron ore price too:
Nov'20 65% Fe - $136.44 -- Premium $26.37 -- Total $162.81
Dec'20 65% Fe - $167.92 -- Premium $31.36 -- Total $199.27
Jan'21 65% Fe - $190.39 -- Premium $47.71 -- Total $238.10
Feb'21 65% Fe - $189.35 -- Premium $47.45 -- Total $236.80
Long may this continue.
No guarantee that FXPO will be getting this price on all tonnage however. Their 2019 report talks about the renewal of long term contracts, one imagines some of those (maybe stuck a year ago or more) may be at lower prices, but as those contracts need to be renewed then these higher prices will play increasingly in the company favour.
Where are you checking your prices? According to http://www.custeel.com/en/csi.jsp its $198
Average 65% Iron ore for Feb: $189.35/T, with 65% Pellet Premium $47.45/T
bringing the average of 2021 as: $189.91/T, with Pellet Premium $47.59/T
Holding steady nicely.
We are 20 cent away from the $200 mark!!
Another comment on a super cycle
https://total-market-solutions.com/2021/02/are-we-entering-a-commodities-supercycle/
Fed sees little inflation this isn’t going down, back up to $198
http://www.custeel.com/en/csi.jsp