The shares of Australia's iron ore producers fell in recent trading on Thursday, as they tracked a weaker iron ore price.
The shares of Fortescue (ASX:FMG) fell 2.8%, while those of Rio Tinto Group (ASX:RIO) were down 1.2%.
Platts, part of S&P Global Commodity Insights, proposed changing the benchmark grade for its Iodex iron ore index to 61% iron content from the current 62% due to falling quality of Australian iron ore, Bloomberg News reported Wednesday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.