off-the-wire

Fortescue posts drop in second-quarter iron ore shipments

Kitco Media
By Reuters
Published:
Updated:
Reuters

Australia’s Fortescue on Thursday posted a 1.4% fall in second quarter iron ore shipments, due to ongoing maintenance activities at some of its key projects in Western Australia.

The world’s fourth largest iron ore miner shipped 48.7 million tonnes (mt) of the steel-making commodity for the quarter ending Dec. 31. That compares with 49.4 mt shipped a year earlier and a consensus estimate of 48.0 mt.

(By Rishav Chatterjee and John Biju; Editing by Sriraj Kalluvila)

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