Iron ore price, page-17087

Extract from AFR article just up on website:

“Fortescue is much better prepared for the Chinese winter than it was two years ago; the company's shares are 83 per cent higher, its net debt is 76 per cent lower and the discount applied to its iron ore has shrunk from 29 per cent to just 11 per cent.

Fortescue is also exporting, on average, higher-quality iron ore to China than it was just one year ago.

The company has introduced a new product with higher iron grades called "West Pilbara Fines'' over the past year, and that product made up 10 per cent of all Fortescue exports in the three months to September 30; up from zero in the same period of 2018.

About 42 per cent of Fortescue's exports in the September quarter of 2018 were its lowest quality product, called "Super Special Fines".

But that product comprised just 34 per cent of Fortescue's exports over the past three months.”