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 Fortescue Metals Group Limited (ASX:FMG) share price has fallen more than 4% after the release of its June 2019 quarter report.
Australia’s share market, or the All Ordinaries Index (INDEXASX:XAO)(ASX:XAO), is currently up 0.38% at lunch.
Australia’s share market, or the All Ordinaries Index (INDEXASX:XAO)(ASX:XAO), is currently down 0.94% at lunch.
The share prices of BHP Group Ltd (ASX:BHP), Rio Tinto Ltd (ASX:RIO) and Fortescue Metals Group Limited (ASX:FMG) could all suffer this week due to China.
The ASX 200 (INDEXASX:XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) fell by 0.18% on Friday.
Australia’s share market, or the All Ordinaries Index (INDEXASX:XAO)(ASX:XAO), is currently up 0.64% at lunch.
US President Donald Trump and China’s Xi Jinping have agreed to restart trade talks, sending companies like Bellamy’s Australia Ltd (ASX: BAL) and Fortescue Metals Group Ltd (ASX: FMG) higher.
Australia’s share market, or the All Ordinaries Index (INDEXASX:XAO)(ASX:XAO), is currently up 0.02% at lunch.
Fortescue Metals Group Limited (ASX:FMG) and Strategic Energy Resources Limited (ASX:SER) have announced they are forming a joint venture.
