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FMG cuts iron ore price realisation goals

After the spread between high and lower-grade ores failed to narrow as expected, Fortescue Metals Group (AU:FMG) has lowered its full-year iron ore price realisation guidance.

FMG cuts iron ore price realisation goals FMG cuts iron ore price realisation goals FMG cuts iron ore price realisation goals FMG cuts iron ore price realisation goals FMG cuts iron ore price realisation goals

Fortescue thinks the spread between high- and low-grade ores will eventually narrow

Despite a first-half price realisation of 68% of the S&P Global Platts 62 CFR index (including 66% for the December quarter), Fortescue had left full-year guidance unchanged at 70-75%.