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Iron ore spreads closing, says FMG

Fortescue Metals Group says the big drop in the iron ore price this week is actually a good thing for the company.

Iron ore spreads closing, says FMG Iron ore spreads closing, says FMG Iron ore spreads closing, says FMG Iron ore spreads closing, says FMG Iron ore spreads closing, says FMG

FMG's Herb Elliott port facility in Western Australia's north

The MySteel 62% Australian iron ore fines price fell below US$70 per tonne on Friday and has continued to decline this week to around $65/t. It traded as high as $76/t a little over a month ago.

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