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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.
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.
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
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
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.
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.
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'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.
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