Fortescue share price set for Monday test as Cyclone Mitchell shuts Port Hedland

Fortescue Ltd shares slipped 1.2% to finish at A$21.23 on Friday, with intraday moves spanning A$21.07 to A$21.54. The S&P/ASX 200 dropped roughly 2% by the end of the session.

Fortescue Ltd shares ended Thursday down 0.74%, closing at A$21.48. The stock gave back some of its earlier gains this week as iron ore-related names lost momentum near the close. It fell roughly 16 Australian cents by day’s end.

Fortescue Ltd shares finished Monday up 0.7%, closing at A$21.15 after fluctuating between A$20.62 and A$21.16 during a volatile session. The stock held up well against the broader market slump. BHP Group dropped 2.6%, Rio Tinto fell 1.0%, and the S&P/ASX 200 lost roughly 1%.

Fortescue Ltd shares closed down about 0.2% at A$21.59 on Thursday, after trading as low as A$21.05 and as high as A$21.63.

Fortescue Ltd shares slipped 1.1% to close at A$21.63 on Wednesday, following news of advances in its bid to fully acquire Canada’s Alta Copper. During the session, the stock fluctuated between A$21.47 and A$22.09.

Fortescue Ltd shares closed up Tuesday following news that Alta Copper shareholders gave the green light to Fortescue’s offer to acquire the remaining stake in the Canadian-listed explorer, bringing the deal nearer to finalisation.

Fortescue Ltd shares slipped 5.1% to close at A$21.48 on Thursday. The iron ore miner’s quarterly report revealed rising unit costs and persistent challenges at its Iron Bridge magnetite project.

Fortescue shares slipped 1.9% to close at A$22.39 on Monday, moving between A$22.12 and A$22.86 during the session with roughly 6.7 million shares changing hands.