Australian iron ore miner Fortescue Metals Group has announced that its iron ore shipments totaled 46.8 million mt in the first quarter of the 2026-27 financial year, ended September 30, 2026, down six percent compared to the same period of the previous financial year, according to its preliminary quarterly performance update.
The total included 2.5 million mt of shipments from the company's Iron Bridge magnetite project. Fortescue stated that shipments were affected by maintenance activities during the quarter, including scheduled shutdowns at its port loading facilities. Nevertheless, inventories across the supply chain remained at healthy levels at the end of September.
Average realized hematite price stands at $80/dmt
The company's average realized hematite price stood at $80/dmt during the quarter, equivalent to 82 percent of the average Platts 61 percent Fe CFR index.
Meanwhile, Fortescue reported iron ore sales of 42.9 million mt, below its shipment volume of 46.8 million mt, reflecting the impact of ongoing negotiations with China Mineral Resources Group (CMRG). including increased product inventories. The company is scheduled to release its full September 2026 quarterly production report on October 22.
