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Fortescue Metals- FY16 Results coverage

Fortescue Metals Group (ASX: FMG), the global leader in the iron ore mining and production, announced outstanding results for the financial year ending June 30th 2016. 679 more words

Result

14 July 2016 (AFR) - Iron ore miners are more than breaking even - benefits from soaring prices

(14 July 2016, AFR, p15, by Peter Ker)

‘The fortune of Fortescue Metals Group chairman Andrew Forrest surged by $228 million on Wednesday after a jump in the iron ore price to a two-month high helped push up resources stocks. 15 more words

1.Market Observations

6 June 2016 (AFR) - Fortescue iron ore discount hits record levels in China

(6 June 2016, AFR, p8, by Angus Grigg)

‘In less than two months Fortescue Metals Group has gone from receiving a premium for its iron ore in China to a record discount, indicating how quickly the market has moved back into oversupply.’ 15 more words

1.Market Observations

14 Apr 2016 (TheAge) - Surging commodity prices and strong exports by FMG lead Australian shares higher

(14 April 2016, The Age, BusinessDay, p21, Peter Ker, Resources reporter, View more articles from Peter Ker)

‘Stronger commodity prices and better-than-expected exports from Fortescue Metals Group put the Australian market in a bullish mood on Wednesday, with the resources sector lifting the ASX 200 1.6 per cent. 14 more words

1.Market Observations

25 Nov 2015 (AFR) - Chinese forecaster says slump in demand will stall ore at $US40 - Get used to $US40 iron ore – China steel chief

(25 November 2015, AFR, p29, by Perry Williams)

‘Rio Tinto, BHP Billiton and Fortescue Metals Group should get used to the price of iron ore trading in a narrow $US40 a tonne range due to declining demand for steel, according to an official Chinese forecaster. 53 more words

1.Market Observations

ASX Investor Update newsletter

The October 2015 edition of the monthly ASX Investor Update newsletter includes an article on Resource Stocks, authored by Robert Brain.

See the full article at the ASX web site… 12 more words

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