SYDNEY, Feb 10, 2026, 17:12 AEDT — After-hours.
- Fortescue slipped 0.96% to finish at A$21.57, trimming back some of Monday’s 2.6% jump.
- Iron ore futures bounced around, with traders dialing back cyclone port disruption jitters, though demand anxiety out of China stuck around.
- Attention shifts to half-year results due late February, with investors watching for updates on costs and any new word on dividends.
Shares of Fortescue Ltd pulled back Tuesday, slipping 0.96% to finish at A$21.57. The stock moved within a range of A$21.51 to A$21.92 through the session. That drop comes after Monday’s jump, when Fortescue closed at A$21.78, up 2.59%. 1
Traders know the drill here: Fortescue still moves with iron ore, a classic high-beta play. The US$100-a-ton level? The market keeps circling it, more as a psychological checkpoint than anything strict, while investors juggle the lure of cash payouts and Fortescue’s bigger push into decarbonisation spending.
Iron ore futures had a mixed showing to kick off the week. On China’s Dalian Commodity Exchange (DCE), the May contract edged down 0.33% to 762.5 yuan per tonne. The Singapore Exchange’s (SGX) benchmark March contract, on the other hand, picked up 0.72% to $99.75 per tonne, clawing back above the $100 mark before sliding under, according to Reuters data. Pilbara Ports reported that Port Hedland had reopened following a cyclone warning, as fresh pollution alerts in China’s steel hub fueled speculation about steel output curbs and softer short-term demand for iron ore. 2
Fortescue injected a fresh clean-energy storyline into the market this day. Fortescue Zero is set to reprise its role as the official “PIT BOOST” supplier for Formula E’s upcoming Season 12, which opens in Jeddah on Feb. 13. The company will provide a portable 600kW pit-lane charger for quick, mid-race energy boosts. “Formula E pushes technology to perform under extreme pressure — and that’s exactly where Fortescue Zero operates best,” said Gus Pichot, CEO of Fortescue Growth and Energy. 3
News like that doesn’t usually move the stock by itself. Still, it’s part of the broader investor debate over Fortescue—just how much money and focus will keep flowing to the core iron ore business, and how much gets diverted into new technology bets that could deliver down the line.
It’s still all about the commodity as the near-term trigger. Export logistics out of the Pilbara in Western Australia are crucial for the iron ore trade; smoother weather strips some of the risk premium from prices, though demand still carries more weight in where things head next.
The risks are clear enough. Should Chinese steel production weaken beyond forecasts, or if officials clamp down further on pollution, iron ore prices can drop sharply. Fortescue’s profit stream relies more heavily on iron ore than the larger diversified players, which leaves it exposed to swings like these before the rest.
On the flip side, if ports remain open and mills take advantage of a dip to restock, support tends to reappear quickly—though it’s often uneven, and sentiment can just as easily swing back the other way.
Now, attention shifts to Fortescue’s FY26 half-year numbers dropping Feb. 25. Investors want to see if there’s fresh news on dividends, and they’re looking for sharper detail on costs and capex. 4
