Fortescue stock pulls back from near 52-week high as iron ore rallies — what investors watch next
SYDNEY, Jan 7, 2026, 16:56 AEDT — Market closed Fortescue Ltd (FMG.AX) shares slipped 0.18% to A$22.80 at the close on Wednesday, after opening at A$23.35 and fading from near a 52-week peak as early buying cooled. StockAnalysis The move matters because Fortescue is one of Australia’s most direct plays on iron ore, the steelmaking ingredient that drives most of its earnings. A fresh push in the commodity has kept the Pilbara miners in focus as investors reset positions after the holiday-thinned start to the year. Rate bets also shifted after Australia’s inflation print came in softer, helping risk appetite