australias fortescue iron ore exports jump 10
Monday 7 July 2025
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

Australia's Fortescue iron ore exports jump 10%

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice Australia's Fortescue iron ore exports jump 10%

Australian miner Fortescue
Sydney - AFP

Australian miner Fortescue Metals Thursday reported a 10 percent increase in iron ore shipments in the June quarter, even as the World Bank flagged further falls in prices from a supply glut.

Fortescue, one of the world's big four iron ore exporters, said the year-on-year increase took ore shipments to 42.4 million tonnes.

Exports of the steel-making commodity for the year ending June 30 soared 33 percent to 165.4 million tonnes from the previous corresponding period.

"Fortescue has completed all expansion capacity and has acted to maximise value by maintaining shipments at 165 (million tonnes per annum) which has been the annualised run rate for the last 12 months," the miner said in a statement to the Australian stock exchange.

Shares in the miner fell 6.17 percent to Aus$1.64 in Thursday afternoon trade.

The World Bank said Tuesday that metals prices were on average projected to be 16 percent lower this year compared with 2014, with iron ore expected to record the biggest fall.

"The largest decline is expected for iron ore (down 43 percent) due to new low-cost mining capacity coming online this year and next (mainly in Australia)," the World Bank said in a statement.

Fortescue is one of the world's four big iron ore exporters, along with Anglo-Australian firms BHP Billiton and Rio Tinto, and Brazil's Vale.

The miners have continued to raise production despite a supply glut and softening Chinese demand, which saw the ore price fall to $44.59 this month, its lowest level since 2009.

BHP Wednesday reported a six percent year-on-year rise in ore output for the June quarter, while Rio recorded a nine percent jump.

Fortescue chairman Andrew Forrest has been a vocal critic of BHP and Rio, claiming the companies were deliberately flooding the market, leading to smaller miners -- which have higher production costs -- battling to survive the challenging conditions.

Forrest also unsuccessfully pushed for an Australian government inquiry into the massive iron ore sector earlier this year.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

australias fortescue iron ore exports jump 10 australias fortescue iron ore exports jump 10

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

australias fortescue iron ore exports jump 10 australias fortescue iron ore exports jump 10

 



GMT 10:31 2014 Tuesday ,23 December

Mirages of failure: Lebanon cannot wait

GMT 05:17 2024 Wednesday ,07 February

Amazon to open first cashierless shop

GMT 11:14 2017 Saturday ,22 July

Smiley face found on ancient pot in Turkey

GMT 00:49 2017 Friday ,13 January

Meet Cats choreographer Gillian Lynne

GMT 09:57 2016 Tuesday ,08 November

Marks and Spencer: To shut 100 stores in overhaul

GMT 06:37 2012 Wednesday ,21 March

Toxins found in cheap jewellery

GMT 10:30 2015 Monday ,02 March

Designer to the stars dresses disabled catwalk

GMT 08:57 2017 Wednesday ,10 May

Counter terrorism strategies should be compliant

GMT 20:48 2017 Wednesday ,22 March

Sisi reiterates Egypt's support for Lebanon

GMT 06:59 2017 Sunday ,22 October

Philippines' Duterte says he will shoot criminals

GMT 19:57 2018 Tuesday ,23 January

Farm-fresh from Kerala to the UAE, in just one day

GMT 09:36 2018 Wednesday ,10 January

Iran investigates death of young man in custody

GMT 08:51 2017 Tuesday ,15 August

HAAD implements next stage of healthcare reforms

GMT 20:22 2017 Monday ,27 November

Army attacks Saudi-paid mercenaries’ sites in Marib

GMT 08:56 2017 Thursday ,13 July

Reasons of price increase of services

GMT 08:13 2017 Sunday ,13 August

Abdul Hussain Abdul Redha passes away
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice