The Fortescue Metals Group Limited (ASX: FMG) share price is jumping 9% this morning, making it one of the top-performing S&P/ASX 200 Index (ASX: XJO) shares. It could be getting an extra boost from its plans to collaborate in Asia to make green steel.
Meanwhile, the S&P/ASX 200 Materials Index (ASX: XMJ) is also currently the best-performing sector. It’s up more than 3% following news China is easing some of its COVID-related restrictions.
Amid the news, ASX 200 iron ore majors BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (AS: RIO) are also soaring in early trade today, up 4.61% and 4.78%, respectively.
Entering the Chinese New Year holiday, market trading is sluggish
Trade & Pricing: Europe's billet market trend 2024-2025
