ASX:FMG

Iron Ore Prices Slump Back Down after Chinese Market Complaints

According to the Australian Financial Review (AFR), a top official on behalf of China’s steel industry said Beijing was getting ready to crackdown on soaring prices.Iron ore market has also been hit by supply disruptions, as weather plagues supply chains. Last month Rio Tinto cut production outlook after issues with its mine, adding further to supply shortages.

Fortescue Metals Group Share Price Dips 5%

Fortescue Metals Group Ltd [ASX:FMG] has slumped 5% to $7.24 in late trading on Friday, 26 April 2019, giving up more gains after hitting a decade high of $8.24 last week. Fortescue has been on a strong bull run over the last few months on the back of a spike in iron ore prices...
Money Morning Australia