Australian iron ore miner Fortescue Metals Group has announced that its iron ore shipments in the fourth quarter ended June 30 of the financial year 2018-19 totaled 46.6 million mt, rising by 22.2 percent compared to the previous quarter and up 0.2 percent from the same period of the previous financial year. Meanwhile, in the given period, the average price received increased to US$92 per dry metric ton (dmt) compared to the March quarter price of US$71/dmt, representing a 30 percent increase.
During the full financial year, Fortescue’s iron ore shipments amounted to 167.7 million mt, one percent lower than the previous financial year due to the impact of Cyclone Veronica.
According to Fortescue, during the June quarter it mined 57.6 million mt of iron ore, rising 20 percent from the previous quarter and up by 16 percent year on year.
The company expects its iron ore shipments in the financial year 2019-20 to be around 170-175 million mt.
