Fortress Minerals listed on SGX early this year at 20 cents, and there has been little price action === although Iron ore price have hit five-year highs.
The price of iron ore pushed past $100/mt for the first time since May 2014. S&P Global Platts reported that after Vale dam disaster, there has been reduced supply globally.
Strong steel demand from China is contributing to the price increases. China - the world's biggest buyer of iron ore and producer of more than half the world's steel. China - needs lots of steel for property market and infrastructure such as subways and sewerage systems.
Iron ore prices are booming now, but may be about to fall back, analysts say
Fortress Minerals' FY ends in February, so 1QFY20 was March-May. Should be reporting results soon, ie within 6 weeks of end-May. Should be by mid-July, ie this week.
Global infrastructure cash splash drives iron ore to new heights
Major economies like China and the US have launched an infrastructure cash splash that has pushed demand for iron ore up and the price to a one-year high.
The iron ore price recently hit $US112 ($157) a tonne, and it continues to trade well above $US100 a tonne.
Singapore market investors finally have taken notice of iron ore stocks -- southern alliance minerals and fortress minerals.
Share prices up today.
The news is that iron ore prices leapt to more than nine-year highs on Friday amid trading spikes and a frenzy for the steelmaking ingredient in China.
According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China (CFR Qingdao) were changing hands for $164.39 a tonne on Friday, up nearly 4% from Thursday’s peg.
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