FMG cuts iron ore price realisation goals

After the spread between high and lower-grade ores failed to narrow as expected, Fortescue Metals Group (AU:FMG) has lowered its full-year iron ore price realisation guidance.

Kristie Batten

Fortescue thinks the spread between high- and low-grade ores will eventually narrow

Despite a first-half price realisation of 68% of the S&P Global Platts 62 CFR index (including 66% for the December quarter), Fortescue had left full-year guidance unchanged at 70-75%.