MARKETS SPECTATOR: Fortescue chill

Iron ore giant Fortescue says it is negotiating with buyers over its Pilbara infrastructure but investors are concerned about the miner's debt levels.


Strong demand, a rising iron ore spot price, margins of as much as $US92 a tonne and a short list of buyers for the company’s Pilbara rail and port assets ... yet Fortescue shares can’t buy any love. The stock at 1300 AEST was down 20 cents, or 6 per cent, to $3.16 after falling as much as 7.7 per cent to $3.10.

Fortescue shares have dropped 35 per cent in the last 12 months compared with the S&P/ASX200 Index that have gained 15 per cent during the same period.

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