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Fortescue Metals qtrly iron ore shipments inch upward
October 25, 2017 / 11:00 PM / a month ago

Fortescue Metals qtrly iron ore shipments inch upward

Oct 26 (Reuters) - Fortescue Metals Group Ltd on Thursday reported a slight rise in iron ore shipments in the 2018 fiscal year’s first quarter, in line with analysts’ estimates, while costs edged lower.

The world’s fourth-largest producer of iron ore said quarterly shipments rose to 44 million tonnes from 43.8 million tonnes in the same quarter a year earlier. Cash production costs averaged $12.15 per wet metric tonne over the quarter, 10 percent less than the year-ago period. (Reporting by Christina Martin in Bengaluru; editing by James Regan, G Crosse)

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