Ferrexpo Share Discussion Threads

[wbecki] 08/2/2019 11:29

Interesting comments from Citigroup on Vale mines..

"”Iron ore futures extend their recent rally, surging as much as 5.8% to $94 per ton in Singapore, the highest since August 2014. Prices are up 9% so far this week, after jumping 14% last week in the aftermath of the deadly accident at a Vale (NYSE:VALE) tailings dam in Brazil that knocked out 40 million tons of annual production. Vale invoked force majeure earlier this week after a judge forced it to suspend some operations at its Brucutu mine in Brazil, a move the company said would result in the loss of an additional 30 million tons per year of production. A major risk is that the Brucutu operation may be "the first of many of Vale’s mines to see its production halted," with the prospect that tighter regulations may affect supplies from other miners, Citigroup says"

[arja] 07/2/2019 22:43

saw this .

Chinese markets are closed until next week for Lunar New Year Celebrations.
Credit Suisse says prices should soar when Chinese markets reopen, suggesting “three digits looks within reach”.
The benchmark iron ore price has already rallied 33% since late November, leaving it sitting at $85.53 a tonne.

[bellbottom] 07/2/2019 13:44

Looking good for a finish above 270p today.

[arja] 07/2/2019 07:40

nice looking chart but a Russian company and that makes me wary. But ok for trading I guess.

[douglas fir] 06/2/2019 22:37

any views on EVR as an alternative ore play?

[arja] 06/2/2019 13:38

yes, both doing well foxy and maybe FXPO overbought on the day. I only get iron ore price on IG and based on chinese price I think and China closed for lunar holiday.
what is iron ore price elsewhere if you know ? mY My S32 is disappointing as affected herr by weak aussie dollar - a nuisance !

[foxy22] 06/2/2019 13:02

I agree with u Re making money on the back of others suffering in this case multiple deaths both from the area and company employers doesn't make one feel good.Vale was brazils darling company and biggest producer of iron ore pellets in the world.It is a well run co and paid good dividends which are now suspendedMy average price for vale was low $4.00Bought during commodity downturn So that's not an issue...but I think there could be further retrace?

[bellbottom] 06/2/2019 12:42

I always have a niggling feeling of guilt about being involved in mining in any form - in this case only as an investor. Yes, that dam video footage pretty horrific and here we are trying to make money on the back of it.

As to getting rid of VALE stock - I suppose it depends on when your original point of entry was , or averaged out. Already had the dead cat bounce - Don't really know anything about VALE apart from them being biggest producer of iron ore on planet.
Biq question is, what is going to be stable price of iron ore over next two or three years and then going forward to the next decade? So many times I've watched fxpo go up and down, following ore price, occasionally getting an extra knock, up or down, by some good or bad news.

Does look like we may hit 300p soon with fxpo. That's 39p up on where we are today. That's nearly £4k profit on a purchase of 10,000 shares.

BB

[its the oxman] 06/2/2019 12:19

300p on the cards , momentum is with us.

[foxy22] 06/2/2019 12:15

Did u see video footage of dam bursting on TwitterPretty horrificMy problem is now what to do with vale...I sold half....the day I heard...thinking of getting rid of other half...it was my largest holding in iron ore..

[foxy22] 06/2/2019 12:11

Apparently they are not going to resume halted supplies Just a comment force majeure...not sure it was an act of god...it's happened once before this burst dam....

[bellbottom] 06/2/2019 12:04

Nice to see fxpo back above 260p - always tempting to bank profits but going to run with the inevitable ups and downs. Patience......

BB

[foxy22] 06/2/2019 11:48

Area...fmg and fxpo continues upward march...

[foxy22] 06/2/2019 11:47

Bell bottom...well done for adding seems vale has declared force majeure and market is choosing to ignore financial questions at Least for today.....

[arja] 05/2/2019 13:20

foxy22,
yes, I saw FMG and was sorry I did not re-enter for another trade but went to bed early last night ! FXPO struggling to recover but tempted to enter now for quick trade today .

[bellbottom] 05/2/2019 10:35

Not sure you can ignore any news. This is undoubtedly hanging over the company until resolved. And sentiment often has a huge impact, even if all above board. And Fxpo has already had a relatively big rise - 25% since about 25th January - that's a week and a half and a big rise in anybody's books. Bigger percentage rise than RIO for instance, in same period.

There's almost an inevitability - you get steep climb followed by retrace/steep descent - always feel nervous when increments are not small and steady.

It's a guessing game to a great degree - iron ore price levelled off now - if it can hold and even climb higher, then great. But again, recent climb been too steep and the usual thing of too much too soon. I'm now holding this lot til 2024 (65 then!) - or at least that's the plan. Maybe deal with smaller amount for fun!!
I'm useless at calling peaks and troughs.

Good luck with your own strategy.

BB

[foxy22] 05/2/2019 10:05

Bellbottom do u think shortterm it can ignore this charity issue and fly like the other iron ore minersLike fmg rio cleveland cliffs etcUnfortunately vale has retraced...

[bellbottom] 05/2/2019 09:57

Hi Foxy22,

Yes, saw the FT article and other articles online - basically the same take on it.
I like to believe the same about it being a storm in a teacup. I was actually more concerned when Simon Lockett resigned after less than two years as director - but with all the problems there has been with this company for various reasons, they have bounced back, based on strong performance and top quality product. Yes, this share has the potential to drop right back, but long term it will surely rise up and get over £5, maybe even £6, when debts are cleared and costs reduced with shrewd investments.

BB

[foxy22] 05/2/2019 09:41

BellbottomDid u see article in ft yesterday on fxpoThinking of adding because iron ore price is flyingI cant help thinking this charity discrepancy is a storm in a teacupAnd designed to hold back s/pSomething fishy

[bellbottom] 05/2/2019 09:27

Bought some more this am for the long haul - or at least that's the intention.
Largish buy for me about £57k in my SIPP. My managed funds have not been doing too great in the last few months so we'll see.

BB

[foxy22] 05/2/2019 08:14

Arja ...u saw fmg last nightFxpo should recover on back of rise In iron ore prices

[tygarreg] 04/2/2019 15:37

Calmed down now!

[foxy22] 04/2/2019 14:25

Vale ordered to close largest mine maybe we go right back up...I/O shortage

[foxy22] 04/2/2019 13:23

Ft says charity investigation may delay results

[bellbottom] 04/2/2019 12:37

I believe most of Ferrexpo products ship from the other side of the Crimea and the larger amount travels by rail or on the Danube - but any tensions or escalations are always going to have some affect, even if only sentiment.



BB