It was encouraging to see FMG reverse higher even as iron ore flirted with $US90/MT during the Singapore trade. We continue to like FMG as a short-term play targeting the $19-20 area, but the medium term will depend on China’s success in turning around its embattled property market.
- We are cautious about chasing FMG into strength but the risk/reward looks good into dips—MM owns FMG in our Active Income Portfolio.
MM is long and bullish FMG for income
Add To Hit List
