Keep away from the edge as iron ore cracks

Fortescue believes rationality will prevail in China’s domestic production, but less competitive local producers should be considering a long-term price not far from $US70 a tonne, with potentially volatile periods in both directions.

The latest crack in the iron ore price, below $US80 a tonne, doesn’t mean anything in itself other than that it sends a signal to the more optimistic in the sector that their hopes of the price stabilising at a higher level may be a tad too optimistic.


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