Jan 31 (Reuters) - Australia's Fortescue Metals Group Ltd FMG.AX on Thursday reported a 5 percent rise in its second-quarter iron-ore shipments as its new mid-grade products helped lift output amid worries of slowing Chinese growth.
The world's fourth-largest iron ore producer said it shipped 42.5 million tonnes of the commodity in the three months ended Dec. 31, compared with 40.5 million tonnes a year ago. An average consensus of two analysts (Macquarie and RBC) was 43.75 million tonnes.
Fortescue in December began shipments of its 60.1 percent West Pilbara Fines product to customers in China in a bid to improve its margins. The miner's lower-grade iron ore has fallen out of favor in recent years with Chinese mills eager to cut emissions after a pollution crackdown in the country.