Fortescue Predicts Strong Iron Ore Prices

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.

Click here to read the full SMH report.