July 25, 2018 / 11:14 PM / 22 days ago

Australia's Fortescue Metals Group posts record quarterly iron ore shipments

July 26 (Reuters) - Iron ore producer Fortescue Metals Group reported record quarterly iron ore shipments on Thursday, enabling it to meet its full-year guidance.

The world’s no. 4 iron ore miner shipped 46.5 million tonnes in the June quarter compared with 44.7 million tonnes a year ago, the company said in a statement. UBS had expected shipments of 46.3 million tonnes for the period.

Cash production costs averaged $12.17 per wet metric tonne in the June-quarter, 7.4 percent below the previous quarter. (Reporting by Aditya Soni in Bengaluru Editing by Paul Tait)

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