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Improved Iron-Ore Price View Good for Fortescue -- Market Talk

6 Mar 2017 12:13 am

0013 GMT - Given solid Chinese steel consumption and as a seasonally strong period of demand looms, steel should provide support for iron ore to trade for at least $90/ton through midyear, posits Credit Suisse. It thusly hikes its 2017 iron-ore view to $78/ton from $55 and increases 2018's forecast by $5 to $58 while in the process upgrading Fortescue (FMG.AU) to outperform. It's up 2.6% at A$6.45 after falling a combined 8.7% the prior 2 weeks. (robb.stewart@wsj.com; @RobbMStewart)
 

(END) Dow Jones Newswires

March 05, 2017 19:13 ET (00:13 GMT)

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