Fortescue (ASX:FMG) share price at year-to-date lows, analysts slash iron ore forecasts

fortescue asxfmg share price at year to date lows analysts slash iron ore forecasts

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.

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