Steel mills put the sizzle back into Fortescue

Original article by Peter Ker
The Australian Financial Review – Page: 17 : 29-Jan-18

The price discount between benchmark iron ore and lower-grade iron ore has widened in recent months, amid the Chinese Government’s push to reduce air pollution. However, Fortescue Metals Group CEO Nev Power believes that the price gap is not sustainable. A strong rise in steel prices contributed to the increase in the price discount, although the price of lower-grade iron ore has risen more strongly than the price of ores with 62 per cent iron content since early December. This has coincided with a seven per cent fall in steel prices.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, WHITEHAVEN COAL LIMITED – ASX WHC, RIO TINTO LIMITED – ASX RIO, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

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