Fortescue’s iron ore shipments down one percent in March quarter

Thursday, 18 April 2019 15:22:01 (GMT+3)   |   Istanbul
       

Australian iron ore miner Fortescue Metals Group has announced that its iron ore shipments in the third quarter ended March 31 of the financial year 2018-19 totaled 38.3 million mt, falling by ten percent compared to the previous quarter and down one percent from the same period of the previous financial year.

The company stated that the impact of Tropical Cyclone Veronica remained limited to 2.5 million mt of shipments lost due to closure of Port Hedland port for five days. Meanwhile, in the given period, the average price received increased to US$71 per dry metric ton (dmt) compared to the December quarter price of US$48/dmt, representing a 47 percent increase.

According to Fortescue, during the March quarter it mined 48 million mt of iron ore, down two percent from the previous quarter and up by 15 percent year on year.

The company expects its iron ore shipments in the financial year 2018-19 to be around 165-170 million mt.


Similar articles

Major steel and raw material futures prices in China - March 29, 2024

29 Mar | Longs and Billet

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