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Fortescue Metals (FMG) $13.95

FMGMXI US

As we touched on earlier FMG has continued to trade around the $14 area while iron ore plunged to new 2021 lows, a sector under pressure would have embraced the weakness in a more emphatic manner – we feel the next $2-3 move for FMG is up, a decent move from $14. However as we have discussed a few times over recent weeks our preference for increased exposure to iron ore is currently the lithium / iron ore miner Mineral Resources (MIN).

FMG
MM is now bullish iron ore names
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Fortescue Metals (FMG) v Iron Ore ($US/MT)
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