The Conversation (0)
IBTimes reported Fortescue Metals Group (ASX:FMG) maintains a positive outlook despite the recent free fall in iron ore prices.
IBTimes reported Fortescue Metals Group (ASX:FMG) maintains a positive outlook despite the recent free fall in iron ore prices.
As quoted in the market news:
But with the slow down of the Chinese economy and the rationalisation of the country’s steelmaking industry this year, prices of iron ore started plummeting after the high of about $190 per tonne that was recorded early last year.
To date, the product’s market price stands at around $135 per tonne, a level that FMG chief executive Nev Power told ABC on Monday could further slide down this year.
Click here to read the full IBTimes report.
