Sumary of Fortescue (ASX:FMG) share price at year-to-date lows, analysts slash iron ore forecasts:
- The Fortescue Metals Group Limited (ASX: FMG) share price is lingering around year-to-date lows.
- At around $17.90, Fortescue shares are being wounded by continued weakness in iron ore prices.
- ” Iron ore prices continued to post declines on Tuesday, down another 1.75% to US$121.67/t.
- The Fortescue Metals share price finished today down 1.44% at $17.82 apiece.
- Analysts expect more declines Analysts from JPMorgan and Westpac both expect iron ore prices to fizzle towards the US$100/t mark, according to the Australian Financial Review (AFR).
- We’ve been here before with China trying to ensure blue skies leading into the 2008 Beijing Summer Olympics where we saw iron ore prices pull back quite a lot.