Iron Ore Price, page-2400

I wonder how FMG's E.D Nev Power will counteract the shorts considering Quarterly Production Report "QPR" will be released on Thursday. Usually QPR's are an excellent opportunity to upsell the business & attract investors from off shore, or will he sit on his hands once again!

http://www.couriermail.com.au/busin...scue-after-gains/story-fnihsevj-1227567795746

Courier Mail.
SHORT sellers have driven Fortescue Metals Group shares more than eight per cent lower after a recent run up in the company's stock.
SHARES in the pure play iron ore miner fell 21 cents, or 8.75 per cent, to $2.19 on Tuesday.
But the share price is still 24 per cent higher than its recent low of $1.67 a fortnight ago.

OptionsXPress analyst Ben Le Brun said it appeared that short sellers had returned to Fortescue, betting that prices will fall as market volatility continues.


"We've got a bit of uncertainty in the commodity sphere starting to rear its head again and Fortescue's a bit of a whipping boy when there's concerns in the broader commodity space given the debt piles that they have," Mr Le Brun said.


"I would think it's probably a few new short positions being applied over the stock."

Mr Le Brun said the company's shares had recently enjoyed a lift amid stable iron ore prices, currency weakness and speculation of infrastructure asset sales.

In addition, official figures released on Tuesday show Chinese imports slumped nearly 18 per cent last month as commodities prices slump on the back of a slowing growth in the world's second-largest economy.

Fortescue will release its September quarter production report on Thursday.