BRM brockman resources limited

iron ore prices have bottomed

  1. 2,333 Posts.
    "Fortescue Metals Group Ltd. Chief Executive Nev Power said Wednesday that global iron ore prices have bottomed after recent falls in spot prices for the steel-making commodity.

    "We've seen the iron ore price now turn, with the Platts Index back to US$131 today and that's shown the iron price has bottomed out at around US$115 a ton and has climbed back up," Power told reporters after the company's annual meeting.

    Fortescue, the world's fourth-largest iron-ore miner by output, expects to see continued strong demand out of China, and continued strong iron ore prices. "


    http://www.marketwatch.com/story/fortescue-metals-ceo-iron-ore-price-has-bottomed-2011-11-09
 
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