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FMG's fortunes could be turning

DEUTSCHE Bank is reporting that steel mills have started switching from high-grade iron to lower-grade ore, based on a recent visit to China.

Kristie Batten
FMG's Herb Elliott Port

FMG's Herb Elliott Port

A preference for 62%-plus ore has seen the discounts for 58% iron widen over the past year. FMG received over 91% of the Platts 62% iron price in the December 2016 quarter, but that slumped to just...

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