Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

Fortescue Q3 iron ore shipments flat, while costs drop

Published 13/04/2016, 09:52 am
© Reuters.  Fortescue Q3 iron ore shipments flat, while costs drop
FMG
-

SYDNEY, April 13 (Reuters) - Fortescue Metals Group FMG.AX said on Wednesday it shipped a flat 42 million tonnes of iron ore in the March quarter, while lowering cash costs by 6 percent versus the previous quarter.

The world no. 4 producer of the steel-making raw material said shipments were running ahead of its annual 165 million-tonne target due to unseasonally mild weather in west Australia.

But any upside to full-year guidance remains subject to the impact of weather during the current quarter, the company said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.