Chinese miners are killing Fortescue Metals

The celebrated ‘new force in iron ore’ is bleeding. Iron ore prices have fallen from peaks of US$180 a tonne to just over US$60 a tonne and savaged Fortescue Metal’s share price, which has fallen from $6 just 12 months ago to about $2 today. With net debt of over $9bn and a shrunken market capitalisation of just over $6bn, things appear grim for the one time market darling. It isn’t just that iron ore prices have fallen or that Fortescue carries comparatively more debt than just about any other producer. The real problem bleeding the business is the refusal...

The celebrated ‘new force in iron ore’ is bleeding. Iron ore prices have fallen from peaks of US$180 a tonne to just over US$60 a tonne and savaged Fortescue Metal’s share price, which has fallen from $6 just 12 months ago to about $2 today.

{{content.question}}

Mastercard

{{ twilioFailed ? 'SMS Code Failed to Send…' : 'An SMS verification code has been sent ...' }}

Hi {{ user.FirstName }}

Looks like you have already taken a free trial

Email is required.
Email must be a valid email.
Password is required.
First name is required.
Last name is required.
Mobile phone number is required.
You must accept the terms and conditions.

OR

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to complete your SMS verification

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

You have entered an incorrect email or password

Email is required.
Email must be a valid email.
Password is required.

Please untick this box when using a public or shared device


OR

Verify your mobile number to proceed...

Please check your mobile number below and press the Send Verification Code button. This will be used to complete your verification in the next step.

Please sign up for full access

Mastercard

Updating information

Please wait ...

Trial

Mastercard
{{ productPrice }} / day
( GST included )
Price $0
Discount -{{productDiscount}}
GST {{productGST}}
TOTAL   (inc. GST) {{productPrice}}
  • Mastercard
  • Visa

Please click on the ACTIVATE button to finalise your membership

Mastercard

The email address you entered is registered with InvestSMART.

Login or to reset your password, select Forgotten password

You have entered an incorrect email or password

Email is required.
Email must be a valid email.
Password is required.

Please untick this box when using a public or shared device


OR

Related Articles