Fortescue posts record iron ore shipments for September quarter

Monday, 02 November 2020 15:28:49 (GMT+3)   |   Istanbul

Australian iron ore miner Fortescue Metals Group has announced that its iron ore shipments in the first quarter ended September 30 of the financial year 2020-21 rose five percent compared to the previous quarter to 44.3 million mt, achieving a record first quarter performance. According to Fortescue, during the September quarter it mined 58.4 million mt of iron ore, rising two percent from the previous quarter and up by 15.4 percent from the same period of the previous financial year.

Meanwhile, in the given period, the average price received increased to US$106 per dry metric ton (dmt) compared to the June quarter price of US$81/dmt, representing a 30.9 percent increase quarter on quarter.

Fortescue said that demand for its products continues. The company has maintained its iron ore shipment guidance for the financial year 2020-21 at around 175-180 million mt.

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