|Bid||7.57 x 0|
|Ask||7.58 x 0|
|Day's range||7.32 - 7.64|
|52-week range||3.52 - 9.55|
|Beta (3Y monthly)||0.61|
|PE ratio (TTM)||28.04|
|Earnings date||21 Aug. 2018|
|Forward dividend & yield||0.31 (4.05%)|
|1y target est||3.43|
ASX-listed iron ore stocks could come under pressure this morning on the back of a warning that the price for the steel making mineral could crash to US$50 a tonne.
The Fortescue Metals Group Limited (ASX:FMG) share price raced higher on Wednesday and could continue to do so if this leading broker's forecast is accurate...
The Appen Ltd (ASX:APX) share price and the CSL Limited (ASX:CSL) share price are two of four racing notably higher on the ASX on Wednesday...
The Challenger Ltd (ASX:CGF) share price and the Fortescue Metals Group Limited (ASX:FMG) share price are two of four storming notably higher on Tuesday...
The AMP Limited (ASX:AMP) share price and the Orocobre Limited (ASX:ORE) share price are two of four dropping notably lower on Monday...
Investors remain on edge during this reporting season as the S&P/ASX 200 (Index:^AXJO) (ASX:XJO) index tries to regain its composure after the brutal sell-off.
(Bloomberg) -- Iron ore has yet to find a bottom, extending a brutal sell-off on rising concern Chinese demand will weaken this half as supplies rebound. That blow adds to trade-war headwinds as investors shun risk assets.Futures in Singapore sank into the $80s a ton, while the contract in Dalian hit the lowest since May. On Tuesday, Fortescue Metals Group Ltd. warned there’s potential for mainland demand to soften this half compared with the first six months. That’s just the latest red flag after a run of indicators from rising port holdings to sinking mills’ profitability that foreshadowed the market’s swoon.“Supply-and-demand drivers have been tilting to a bearish stance for weeks now -- the fall was in the making and we only needed a trigger,” Marex Spectron Group analyst Hui Heng Tan said, referring to the U.S-China trade conflict. The recent weakening of the yuan, which hurts the purchasing power of mills already facing weak margins, has sparked the decline, he said.The steel-making commodity has gone into freefall as the U.S.-China trade war hurts investors’ appetite for raw materials, at the same time that iron ore’s fundamental drivers weaken. This week, the China Iron & Steel Association said it expected price declines to continue as mainland consumption falters. The sudden retreat has driven futures and spot prices into bear-market territory.“Mills in China are reportedly reluctant to increase iron ore stockpiles given the weak demand backdrop,” Commonwealth Bank of Australia said. “Demand concerns reflect the U.S.-China trade tensions,” including Washington’s recent designation of Beijing as a currency manipulator, the bank said in a note.On the Singapore Exchange, ore for September lost as much as 7% to $86.68 a ton, and traded at $87.80 at 3:18 p.m. local time. Most-active prices are set for a sixth daily decline, the worst run this year. On the Dalian Commodity Exchange, futures sank as much as 5.1%.Mining stocks remained under pressure, with Fortescue falling 3.3% in Sydney. In London trading, Rio Tinto Group dropped as much as 2.1% to the lowest since March and BHP Group declined 1.1%.On Wednesday, China’s central bank set its daily currency reference rate marginally stronger than 7 a dollar. Earlier this week, the mainland currency breached that key psychological level, stoking criticism from U.S. President Donald Trump and roiling global markets.Among the recent iron ore market developments:Fortescue flagged weaker second-half demand, although Gaines cautioned that “it will certainly still be up year-on-year.”Roy Hill Holdings Pty is aiming to lift shipments to a run rate of 60 million tons a year, Chief Executive Officer Barry Fitzgerald said.Iron ore prices are expected to drop in a volatile fashion as mainland steel production is seen falling, the China Iron & Steel Association said in a monthly analysis.To contact the reporter on this story: Krystal Chia in Singapore at firstname.lastname@example.orgTo contact the editors responsible for this story: Phoebe Sedgman at email@example.com, Jake Lloyd-Smith, Keith GosmanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The S&P/ASX 200 (Index:^AXJO) (ASX:XJO) index isn’t far off its record high despite this week’s market meltdown but there are two key sectors that are staring down a bear market retreat!
Chinese iron ore futures have fallen more than 10% in the past five trading sessions. This has sent all ASX miners tumbling from glorious highs to at least two-month lows. On Tuesday, iron ore miners demonstrated some consolidation with the BHP Group Ltd (ASX: BHP) share price down 0.75% to $37.10, Rio Tinto Ltd (ASX: […]
There are few places of refuge amid the brutal market sell-off but there are signs that bargain hunters are braving the storm and buying the dip when it comes to our big miners.
The Fortescue Metals Group Ltd (ASX: FMG) share price plummeted 7.2% to a 3-month low after China's currency devaluation sent ASX tech and mining stocks lower.
The Lynas Corporation Ltd (ASX: LYC) share price has crashed to a more than two-month low this afternoon as the S&P/ASX 200 (Index:^AXJO) (ASX:XJO) index tumbled.
The Fortescue Metals Group Limited (ASX:FMG) share price and the WiseTech Global Ltd (ASX:WTC) share price are two of four sinking lower on Monday...
There are 3 key takeaways for ASX investors from Buffett's decision to be a net seller of shares and sit on a record pile of cash, which earns next to nothing.
Will iron ore prices go bust and weigh on BHP Group Ltd (ASX:BHP),Fortescue Metals Group Limited (ASX:FMG), and Rio Tinto Limited (ASX:RIO) shares?
The new round of US tariffs on just about all Chinese imports may help Rio Tinto Limited's (ASX: RIO) course in a perverse way, although shareholders won’t be getting that impression today.