Fortescue’s iron ore shipments up 3% in Sept quarter, hit record for the quarter

Thursday, 28 October 2021 10:40:49 (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 2021-22 fell by eight percent compared to the fourth quarter last year and were up by three percent year on year to 45.6 million mt, a record for a first quarter. According to Fortescue, during the September quarter it mined 60.8 million mt of iron ore, falling by six percent from the previous quarter and up by four percent from the same period of the previous financial year.

Meanwhile, in the given period, the average price received increased to US$118 per dry metric ton (dmt) compared to the June quarter price of US$168/dmt, representing a 29.7 percent decrease quarter on quarter.

Fortescue’s iron ore shipment guidance for the financial year 2021-22 remains at 180-185 million mt.

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