Fortescue Ltd (ASX: FMG) is a global leader in the iron ore industry, known for its leading development of world class infrastructure and mining assets in the Pilbara region of Western Australia. Fortescue was founded in 2003 by Andrew Forrest, who is now one of Australia’s wealthiest people. The vast majority of Fortescue’s iron ore, a steel-making ingredient, is shipped and sold to Chinese customers.
The ASX 200 (INDEXASX:XJO)(^AXJO) could be due for a big correction this year as it reached a recent high.
Rio Tinto Limited (ASX: RIO) shares have continued rising today, up another 3% on higher iron ore prices. How much further can they go?
The Fortescue Metals Group Ltd (ASX:FMG) share price is down 8% so far today.
Australia’s share market, or the All Ordinaries Index (INDEXASX:XAO)(ASX:XAO), is currently down 0.18% at lunch.
Friday last week saw most ASX 200 (INDEXASX:XJO) mining shares get a boost from news of record steel production in China and more concerns Vale SA (NYSE:VALE).
The Fortescue Metals Group Limited (ASX:FMG) share price went up almost 7.5% today.
The share price of Fortescue Metals Group Limited (ASX:FMG) rose more than 6% in response to commodity market movements.
Australia’s share market, or the All Ordinaries Index (INDEXASX:XAO)(ASX:XAO), is currently up 0.56% at lunch.
BHP Group Ltd (ASX:BHP) shares have had a positive run since December, at one point reaching $40 per share.
