Base Metals

Bloomberg reported Fortescue Metals Group Ltd. (ASX:FMG) fell to the lowest in more than three years in Sydney trading as the price of the steelmaking material extended losses. As quoted in the market news: Shares of Fortescue, which today was cut to hold from buy at Royal Bank of Scotland Plc, dropped 8.5 percent to A$3.12, its […]

Bloomberg reported Fortescue Metals Group Ltd. (ASX:FMG) fell to the lowest in more than three years in Sydney trading as the price of the steelmaking material extended losses.

As quoted in the market news:

Shares of Fortescue, which today was cut to hold from buy at Royal Bank of Scotland Plc, dropped 8.5 percent to A$3.12, its lowest close since June 9, 2009. Smaller rivals including Atlas Iron Ltd. (AGO) fell 4.8 percent, while Gindalbie Metals Ltd. (GBG) plunged 11 percent.

Click here to read the full Bloomberg report.

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