China-Australia relations: Australian iron ore giant Fortescue ‘well-placed’ to meet China’s strong demand

//China-Australia relations: Australian iron ore giant Fortescue ‘well-placed’ to meet China’s strong demand

China-Australia relations: Australian iron ore giant Fortescue ‘well-placed’ to meet China’s strong demand

Fortescue Metals Group on Thursday reported a 4.7 per cent jump in iron ore shipments, in line with forecasts, as global miners benefit from soaring demand in top steel producer China.The average price the company received for its iron ore during the October to December quarter rose a whopping 60.5 per cent to US$122 per dry metric tonne, realising 91 per cent of the 62 per cent Platts benchmark average.Fortescue’s quarterly shipments were flat on an annual basis at 46.4 million tonnes, but in…

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By | 2021-01-28T02:46:43+00:00 January 28th, 2021|Business|Comments Off on China-Australia relations: Australian iron ore giant Fortescue ‘well-placed’ to meet China’s strong demand