Fortescue’s iron ore shipments fall by seven percent in Q3 from Q2 levels

Thursday, 14 October 2010 16:09:10 (GMT+3)   |  
       

Australian iron ore miner Fortescue Metals Group announced on October 14 that in the third quarter of 2010 its iron ore shipments totaled 10.26 million metric tons, decreasing by seven percent quarter on quarter but up eight percent as compared to the corresponding period of 2009, as the company's customer base keeps growing beyond China, Europe and South Korea, now including Japan and Australia. The average price for the second quarter was approximately US$125/dwt CFR.

The aggregate 11.05 million mt of iron ore mined in the third quarter dropped three percent quarter on quarter but was up by seven percent in comparison to the same period last year, Fortescue said. Total ore processed during the third quarter was down seven percent but was up two percent year on year, at the level of 9.75 million mt.
 
As SteelOrbis previously reported, Fortescue recently secured a US$2 billion loan to proceed with its gigantic expansion plan.


Similar articles

Iron ore prices drop by over $9//mt week on week, mood remains bad

28 Mar | Scrap & Raw Materials

Goa government to ease policy for liquidating iron ore dumps lying on private land

28 Mar | Steel News

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

CISA: Coking coal purchase cost in China down 9.86% in Jan-Feb

28 Mar | Steel News

Brazilian high-grade iron ore price declines sharply in two days

27 Mar | Scrap & Raw Materials

Daily iron ore prices CFR China - March 27, 2024

27 Mar | Scrap & Raw Materials

India’s JSPL takes operational charge of iron ore complex in Venezuela

27 Mar | Steel News

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet

Vale selected to begin award negotiations for US briquette plant

26 Mar | Steel News

Daily iron ore prices CFR China - March 26, 2024

26 Mar | Scrap & Raw Materials