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SMH reported Fortescue Metals (ASX:FMG) says iron ore will see strong prices in 2012 with quick declines.
SMH reported Fortescue Metals (ASX:FMG) says iron ore will see strong prices in 2012 with quick declines.
As quoted in the market news:
Prices for the steelmaking raw material delivered into China slumped in October, falling 31 per cent for the month, including the biggest one-day drop in more than two years as demand waned. Rio Tinto Group, the second-biggest exporter, last week said some Chinese buyers have had credit difficulties while customers are still purchasing all its output.
