Broad-Based Gains for Blue Chips: Why the ASX Is Up Today
At time of writing, there have been broad-based gains for blue chip stocks and the ASX 200 is up 39.2 points.
ASX:FMG
Iron Ore Up Further on Weather Disruptions in China & Australia
Iron ore spot prices are up again, close to a multi-year record on weather disruptions in China and Australia. The share prices of Fortescue Metals Group Ltd and Rio Tinto Ltd could benefit.
Iron Ore Miners Have a Good Day as Vale Provides Output Update
The major iron ore miners have had a good day today. The gains can be attributed to two events in two countries - China and Brazil.
Iron Ore Up Again on Further Brazilian Production Cuts
Iron ore prices are up again as fresh news of further Brazilian production cuts filter through the market. Picking the overall trend here is tricky as each bit of news out of Brazil has shifted the market, despite the various factors internal to China.
Iron Ore Prices Up as Steel Price Rises, Market Enters Peak
Iron ore prices are up again as the steel price has risen and the market enters a traditional peak period. This means the iron ore rally could have a bit more juice in it yet.
Fortescue Metals Share Price Rises Again, Renewed Iron Ore Price Surge
With the iron ore price firming up after two weeks of falling prices, Fortescue Metals has reaped the benefits today. Iron ore prices have experienced a renaissance following a dam disaster in Brazil.
Will Fortescue Metals Group’s Share Price Keep Falling?
At the time of writing, f Fortescue Metals Group's share price is down by 4.54% for the day, to $6.65 per share. Over the last few weeks, Fortescue Metals Group’s share price skyrocketed following the Brumadinho dam burst in Brazil ― the country’s worst mine disaster on record.
Iron Ore Price Surge Halted by Declining Steel Mill Margins
Following a significant surge in the price of iron ore after a Brazilian dam collapse, the price of iron ore has cooled slightly. Much of this comes down to declining steel mill margins.
Fortescue Metals Shares Rally After Iron Ore Improves
Up 5% at time of writing, Fortescue Metals Group Ltd [ASX:FMG] has reacted well to improved iron ore prices. Fortescue had earlier been under the pump as iron ore prices slumped.
Is It Time to Have a Punt on Iron Ore Producers?
Iron ore miner Fortescue Metals Group Ltd [ASX:FMG] is a good proxy stock for Chinese economic growth. As you can see in the chart below, over the past few years, FMG’s share price has been in decline.