4th largest iron ore miner, Fortescue Ltd., expects lower full-year shipments due to Western Australian mine disruptions, causing a 6% Q3 export decrease to 43.3 million tons.
4th largest iron ore miner, Fortescue Ltd., expects its full-year shipments to be at the lower end of its guidance due to disruptions at its Western Australian mines, causing a 6% decrease in Q3 exports to 43.3 million tons. The decline is attributed to an ore car derailment and weather issues. Despite iron ore prices dropping 29% due to China's property sector woes, they have rallied in recent weeks.
April 24, 2024
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