Business
While iron ore prices are high, Fortescue has more cards up its sleeve – Livewire Markets
High iron ore prices and supply disruptions in Brazil have many forecasting lower profits for Fortescue in FY21, but Stephane Andre from Alphinity Investment Management says market expectations are too bearish, and further upgrades could be ahead. Current for…
High iron ore prices and supply disruptions in Brazil have many forecasting lower profits for Fortescue in FY21, but Stephane Andrefrom Alphinity Investment Managementsays market expectations are too bearish, and further upgrades could be ahead. Current forecasts have Fortescue receiving an average price of $75-$80 per tonne in FY21, well below current spot prices of around $125 per tonne. But he sees stimulus from COVID-affected countries like Japan, Korea and Taiwan, as well as continued deman…
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