Business
Could the run be over for the Fortescue (ASX:FMG) share price?
The recent slump in the Fortescue Metals Group Limited (ASX: FMG) share price has coincided with a slight pullback in iron ore prices.
Iron ore took a partial retreat this week from 10-year highs of US$175 per tonne to US$168 per tonne. The weakness in iron ore was triggered by new policies in China to curb carbon emissions and consequently, steel production and iron ore demand.
Are Chinese policies dragging the Fortescue share price lower?
China appears to be taking its first steps in its ambitious goal to achieve net-zero emissions by 2060. The city of Tangshan is one of the country’s most polluted cities due to its heavy industrial output.
Early this week, the South China Morning Post reported an emergency municipal meeting…
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