Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

A buy-side analyst with over 18 years of experience investing in Asian markets and specializing in the mid-small cap space, emphasizing value investing in companies with good free cash flows/dividends and long-term holding horizons. 
Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd. It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity, Bottom-up Analyst

Fortescue Ltd (FMG AU): FY26 Record Shipments, Iron Bridge Impairment, and a Higher FY27 Cost Base

Iron Ore Monthly Derivatives Chartbook (July 2026)

Vale: Deepening Its China Advantage, Preparing for the Copper Boom

Iron Ore Q3FY26 Operational Reports: Are The Miners Going To Find Diesel Supply/Price Challenging?

Iron Ore: All Eyes On CMRG Negotiation, China Imports And Restocking Strong: Negative Long-Term

Fortescue Metals (FMG AU): Strong H1, Pre-2030 Earnings Bump From Decarbonization + Iron Bridge

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

<ul>
<li>The <strong>Singapore gasoil 10 ppm benchmark</strong>, which is commonly used to calculate diesel costs for iron ore players like <a target="_blank" rel="noopener">Fortescue Metals (FMG AU)</a>, has declined 45% from its April peak.</li>
<li>The <strong>BDIY has also corrected from its peak levels of 3000 to the low 2000's</strong>. While some cost pressures have eased, iron ore prices have also pulled back.</li>
<li>From a margin perspective, on the higher end of the cost curve, like <a target="_blank" rel="noopener">Fenix Resources (FEX AU)</a>, will experience a bit of margin pressure, although long-term, we like the name.</li>
</ul>


The Singapore gasoil 10 ppm benchmark, which is commonly used to calculate diesel costs for iron ore players like Fortescue Metals (FMG AU), has declined 45% from its April peak.
The BDIY has also corrected from its peak levels of 3000 to the low 2000's. While some cost pressures have eased, iron ore prices have also pulled back.
From a margin perspective, on the higher end of the cost curve, like Fenix Resources (FEX AU), will experience a bit of margin pressure, although long-term, we like the name.


Iron Ore: Temporary Relief With The Correction in Diesel And Shipping Costs