Michael Sainsbury The price of iron ore got some respite last week, but it is likely to be only a dead cat bounce as market analysts took their axes to forecasts yet again. Although it has risen from a 10-year low of US$46.70 per tonne closing at US$50.80 last night , many analysts have cut
Tag Archives: FMG
Michael Sainsbury Crikey, crikey.com.au, March 13, 2015. Andrew “Twiggy” Forrest’s Fortescue Metals Group will need to move soon if it’s to avoid serious financial strife caused by the ongoing downturn in the global iron ore market. The world of Fortescue Metals Group can be a strange place. It is seeking to raise $2.3 billion
Michael Sainsbury Nikkei Asian Review, August 6 2014 These are tougher times for the world’s iron ore miners. After four years of record prices, the commodity has fallen back to earth and is now selling at $95 per ton, down from $135 at the start of the year, as China’s economy – which
Michael Sainsbury As regular readers will know, Little Red Blog has, for quite some time been unfashionably bearish on both the Chinese economy and the iron ore price. So it’s with some relief that we can report that both are softening at the sort of rate we had expected but which most, at the start
Michael Sainsbury China must be now be extremely concerned about its property market plummeting with a story widely published in state media at the weekend going to great lengths to say that if the property bubble does pop – and note that the story actually calls it a bubble – it won’t hurt the economy.