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The Iron Ore Output of FMG was 34.9 million tons in Q3, up 91% M-O-M

Wednesday, October 23, 2013
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[Ferro-alloys.com]The FMG Group, the fourth biggest in the world, reported yesterday that the iron ore export was 25.9 million tons in the third quarter this year, up 61% M-O-M and the iron ore output was 34.9 million tons, up 61% M-O-M. Besides, its biggest diggings would be put into operation. It was expected that the capacity would reach 155 million tons at the end of March, 2014.

Until June 30^th, 2014, the annual export goal was still 127-133 million tons. According to the news, the production cost had risen toUSD33.17/mt from USD 36.01/mt. the reason were stripping ratio declining, operation rate improving, rental fee declining and Australian dollar devaluation against USD.

Besides, Chinese demand drove the price of iron ore to rise. The FMG average price rose to USD121/ dmt (CFR) from USD113 dmt (CFR).

[Editor:editor]

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