Fortescue Positive Despite Recent Iron Price Fall

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.