BARRY FITZGERALD

Fortescue overshoots to the downside

JUST as oils ain’t oils, so it is with iron ore. There has been a sharp reminder of that with the A$2 billion value hit taken by Andrew Forrest’s one-third owned Fortescue Metals since its revealed that the discount applied to its 58% iron Pilbara product had blown out in the March quarter something shocking. <b>By Barry FitzGerald</b>