Iron ore has been flirting with the $US100/MT area over recent weeks with the next 10-20% move highly likely to be determined by future economic activity in China i.e. so far the world’s 2nd largest economy has disappointed as it reopens from unprecedented COVID lockdowns.
- Interestingly the Fortescue (FMG) share price has decoupled slightly from the bulk commodity suggesting some optimism toward China i.e. the last time iron ore was at current levels FMG was around 15% lower.
MM remains neutral toward iron ore & Fortescue (FMG)
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Iron Ore ($US/MT) v Fortescue Metals (FMG)
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Iron Ore ($US/MT) v Fortescue Metals (FMG)
