Fortescue shares rise as iron ore firms; FMG investors eye Jan. 22 output report
Fortescue shares rose 1.6% to A$22.84 on Tuesday, tracking stronger iron ore prices in China. The Dalian May iron ore contract gained 0.95% to 797 yuan a tonne, supported by mill restocking and tight supply. Fortescue’s December-quarter production update is due January 22. The company’s market value stands at about A$70.3 billion.