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Iron Ore

This bulk commodity is very topical at the moment after more than halving in recent months courtesy of strong arm policy shifts by China and the much discussed collapse of China Evergrande which has led to a huge slowdown in construction in China. Our view things will now level off and some of the damage inflicted on the respective stocks will be addressed e.g. we can see Fortescue (FMG) at least back towards $19-20, not exciting for long term holders but still 20% higher than yesterdays close.

MM is bullish FMG short-term
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Fortescue Metals Group (FMG)
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