FMG Share Price Today, 26 November 2025: Fortescue (ASX: FMG) Rides Iron Ore Tailwinds After Sharp Rebound

Fortescue Ltd (ASX: FMG), the iron ore and green energy group founded by Andrew “Twiggy” Forrest, is back in focus today after a strong rebound in the Australian mining sector and a flurry of decarbonisation announcements.

As of this morning’s trade on Wednesday, 26 November 2025, FMG is hovering around the low A$21 range, broadly in line with Tuesday’s close, after gaining more than 2% in the previous session. Different market platforms are quoting Fortescue between roughly A$20.90 and A$21.00 following Tuesday’s rally. ^[1]

Note: Prices move throughout the trading day. All levels below refer primarily to the close of trade on Tuesday, 25 November 2025, ahead of today’s session.

FMG Share Price Snapshot

On Tuesday, 25 November 2025, Fortescue’s share price:

Closed around A$21.00, up about 2.1–2.7% on the day, depending on the data provider. ^[2]
Traded between roughly A$20.12 and A$21.02 intraday, a swing of about 4.5%, highlighting ongoing volatility in the big miners. ^[3]
Has now risen in 7 of the last 10 sessions, putting it about 5–6% higher over the past two weeks. ^[4]

This rebound comes just a few days after a sharp sell-off on 21 November, when the broader ASX 200 tumbled on global rate jitters and the materials sector dropped nearly 4%. Fortescue fell about 5.5% to A$20.06 in that session before bouncing back. ^[5]

Over a longer horizon, FMG is trading close to where it finished FY24 (A$21.41 as at 30 June 2024), underscoring how resilient the stock has been through iron ore and macro swings. ^[6]

Why FMG Stock Is Moving: Macro & Sector Drivers

1. Iron Ore Prices Holding Firm

For Fortescue, the single biggest macro driver remains iron ore prices, given the company’s core Pilbara export business.

Recent data show 62% Fe iron ore prices sitting broadly around US$104–106/t, with only modest day-to-day moves in November. ^[7]
Market commentary points to steady demand from Chinese steel mills amid cautious but ongoing stimulus efforts and tighter seaborne supply. ^[8]

Firm iron ore pricing has given the ASX materials sector some breathing room after earlier weakness, and Fortescue has been a direct beneficiary of that stability.

2. ASX 200 Materials Sector Rebound

After a rough patch that saw the materials index underperform earlier in November, mining names rebounded this week:

A sector wrap on Tuesday highlighted Fortescue gaining about 2.1% to A$20.91, with BHP and Rio Tinto also in the green as iron ore futures rallied. ^[9]
Another market report the same day noted Fortescue as the best-performing major iron ore stock, rising 2.74% to A$21.00, helping the ASX 200 edge higher despite weakness in the banks. ^[10]

In short, FMG is trading today against a backdrop of improving risk sentiment in resources, even as global markets remain nervous about interest rates and growth.

Latest Fortescue News: Operations, Decarbonisation and Strategy

Today’s FMG share price action can’t be separated from a heavy flow of company news over the last few months, much of it centred on operational execution and green energy ambitions.

Record FY26 Q1 Shipments

On 23 October 2025, Fortescue delivered a strong FY26 first-quarter update:

Iron ore shipments of 49.7 million tonnes for the quarter to 30 September 2025.
Management described the outcome as a record Q1 performance, reinforcing guidance for the full year. ^[11]

This result reassured investors after earlier concerns about cost inflation and capital intensity in Fortescue’s green projects. It showed that the legacy iron ore business is still throwing off substantial cash flow.

AGM 2025: Strategy and Shareholder Messaging

At the 31 October 2025 Annual General Meeting, Fortescue released:

Results of the AGM, confirming all resolutions passed, and
An AGM presentation and speech that emphasised the company’s dual identity as both a major iron ore exporter and a technology/energy group focused on decarbonisation. ^[12]

In its investor materials, Fortescue again highlighted its track record of delivering more than A$45 billion in dividends to shareholders since inception, while signalling that the company will continue to invest heavily in green hydrogen, green iron and renewable power projects. ^[13]

Decarbonisation Partnerships and Solar Funding

The decarbonisation theme has intensified through late 2025:

On 26 September 2025, Fortescue lodged an ASX announcement outlining “decarbonisation partnerships”, part of a broader effort to secure technology and financing partners for its clean energy pipeline. ^[14]
On 10 November 2025, the company announced that ARENA (the Australian Renewable Energy Agency) will provide up to A$45 million in funding for a Pilbara Solar Innovation Hub, aimed at developing next-generation solar technology and grid integration in the region. ^[15]
A “Real Zero” report released on 7 November 2025 emphasised Fortescue’s stance that eliminating fossil fuels can deliver lower long-term costs and stronger economies, reinforcing its branding as a first-mover on climate. ^[16]

These announcements don’t move the share price tick-for-tick like iron ore does, but they shape medium-term sentiment around Fortescue’s risk profile, capex needs and potential valuation as more than “just” an iron ore miner.

Fundamentals Snapshot: What Kind of Business Is FMG Today?

Fortescue has evolved well beyond its early days as a pure-play Pilbara iron ore growth story:

It explores, develops, produces and sells iron ore into key Asian markets, particularly China, while also supplying other regions. ^[17]
In recent years, it has aggressively repositioned as a “technology, energy and metals group” focused on accelerating commercial decarbonisation. ^[18]
It remains one of the highest returning companies on the ASX by cumulative dividends, which is a major reason retail investors closely watch the FMG share price for income potential. ^[19]

For many investors, FMG is now a hybrid story: part high-beta iron ore producer, part long-duration green energy platform.

Technical Tone: Short-Term Momentum in FMG Stock

From a purely price-action perspective (not advice), the near-term setup coming into today’s session looks like this:

The stock has risen in 7 of the last 10 sessions, and is up roughly 5–6% in two weeks, indicating a short-term uptrend from the recent lows around A$20. ^[20]
Intraday volatility around 4–5% suggests active trading interest and sensitivity to macro headlines. ^[21]
The rebound from the sharp 21 November sell-off indicates buyers stepped in to defend the low-A$20 area after the macro shock. ^[22]

Short-term traders watching FMG today are likely focusing on whether the stock can hold above A$20 and build a base in the low-A$21s, or whether renewed macro volatility drags it back into the prior trading range.

Key Things FMG Investors Are Watching Today

Here are the main factors likely on the radar for anyone tracking FMG on 26 November 2025:

Iron Ore Price Moves
- Any fresh data on 62% Fe benchmark pricing or Chinese steel production can quickly filter through to FMG’s share price. Iron ore holding above US$100/t has been a tailwind; a break below that level would be a clear warning sign. ^[23]
China Demand & Policy Headlines
- Stimulus measures, infrastructure spending and property market support in China remain crucial. Traders will be watching for signs of either renewed steel demand or further slowdown.
Updates on Green Energy Projects
- Fortescue’s Pilbara Solar Innovation Hub, green hydrogen and green iron projects may not affect today’s price minute-by-minute, but any new partnerships, cost updates or policy incentives could sway expectations for long-term returns. ^[24]
Dividend Outlook and Capital Allocation
- With a long record of large dividend payouts, any signal from management about payout ratios versus reinvestment into decarbonisation projects will be closely scrutinised, especially after FY25 profit volatility. ^[25]
Broader ASX 200 Sentiment
- If the ASX 200 extends Tuesday’s modest gains, resources may continue to outperform. Conversely, another macro-driven sell-off like 21 November could see high-beta names such as FMG under renewed pressure. ^[26]

What Today’s Setup Could Mean Going Forward

From a news and data perspective (not a recommendation), the picture for FMG as of 26 November 2025 looks like this:

Supportive side:
- Iron ore prices are holding above US$100/t, underpinning strong cash flow from the core business. ^[27]
- FMG has just delivered record Q1 shipments for FY26, suggesting operational momentum despite cost headwinds. ^[28]
- The company continues to secure public and private backing for its decarbonisation projects, including ARENA funding for its Pilbara solar initiative and a series of partnerships announced through late 2025. ^[29]
Risk side:
- The stock remains highly sensitive to iron ore prices and China’s growth trajectory, both of which can change quickly. ^[30]
- Capital requirements for Fortescue’s green projects are substantial, raising ongoing questions about return on invested capital and future dividend capacity. ^[31]
- FMG’s recent profit volatility, including a reported 41% profit drop for FY25 compared to prior years, shows that even strong operators aren’t immune to commodity cycles. ^[32]

For anyone watching FMG stock today, the takeaway is that Fortescue is trading near the top end of its recent range, with solid near-term fundamentals but elevated strategic risk as it straddles iron ore and green energy.

Final Thoughts

Fortescue’s FMG share price on 26 November 2025 reflects a company at an inflection point:

It remains a core iron ore producer, leveraged to Chinese demand and global steel output.
It is simultaneously attempting to transform into a leading decarbonisation and green energy player, backed by government funding and large-scale partnerships. ^[33]

How those two strands balance out—cash cow iron ore versus capital-hungry green growth—will likely continue to drive FMG’s volatility and its long-term valuation.

If you’re considering any investment decision around FMG, it’s important to:

Check live prices and announcements from the ASX or your broker,
Review Fortescue’s latest AGM, quarterly reports, and guidance, and
Match the stock’s commodity-linked risks and volatility to your own time horizon, risk tolerance and financial goals, ideally with input from a licensed financial adviser.