Iron ore's meltdown last summer - when prices dropped from $145 a tonne to $87 in a matter of months - wreaked havoc on the shares of large iron ore miners. Since then, the key steelmaking ingredient has rebounded strongly, with prices now hovering around 16-month highs. Export prices to China, the world's biggest iron ore consumer, reached $160 a tonne two weeks ago - and shares in iron ore miners have soared too.
IC TIP:
Sell
at
4.71A$
Tip style
Sell
Risk rating
High
Timescale
Long Term
Bull points
- Rapid production growth
- Potential sale of infrastructure assets
Bear points
- Iron ore price forecast to slump
- High operational gearing
- Huge debt pile
- Dividend axed
