Sydney, Feb 24, 2026, 17:39 AEDT — Market closed.
- Fortescue closed up 1.1% at A$20.20 after Tuesday trade
- Investors square up before Fortescue’s half-year results due Wednesday
- China’s state-backed iron ore buyer is pushing for better terms, raising price angst
Fortescue Ltd (FMG.AX) shares ended higher on Tuesday, a day before the iron ore miner reports half-year results, with traders watching signs that China’s annual supply talks could pressure prices. (Investing.com Australia)
The move comes as Australian miners head into a busy earnings stretch with iron ore still doing most of the heavy lifting for cash flow and dividends, even as negotiations with China’s state-backed buyer draw more attention.
The broader S&P/ASX 200 was down about 0.1% in late trade, while materials and energy held up better, according to Market Index. BHP Group (BHP.AX) was up 1.2%, the report said. (Market Index)
Iron ore futures on Singapore Exchange were last marked at $95.55 a tonne at midday on Feb. 24, a reference point investors use to gauge revenue pressure across the sector. (Sgx)
In Canberra, Resources Minister Madeleine King said Australia was watching negotiations between major miners and China Minerals Resources Group (CMRG) because of the federal budget impact from any fall in ore prices. “Iron ore is the bedrock of the economy,” she said. BHP chief executive Mike Henry said the gap between the parties’ views was “a little bit wider” than in past years, but he was confident a deal would be reached. (Reuters)
For Fortescue, which ships most of its ore to China, a weaker pricing environment can show up fast in realised prices, margins and payout expectations. Investors tend to treat the stock as a liquid proxy for iron ore sentiment, particularly when macro headlines crowd out company detail.
On Wednesday, traders will focus on Fortescue’s sales volumes, unit costs and any tweaks to guidance, along with the interim dividend. Comments around demand from Chinese mills and pricing assumptions will be parsed line by line.
But the setup cuts both ways. A sharper-than-expected hit to prices from drawn-out negotiations, or softer Chinese steel demand, could sour sentiment quickly — especially if Fortescue flags cost creep or higher capital spending.
Fortescue is scheduled to release its FY26 half-year results on Feb. 25. (Fortescue)
