Iron-ore major Fortescue Metals has reported record half year revenues during the six months ending December, after iron-ore shipments increased by 7% on the previous corresponding period.
Iron-ore shipments in the first half of the 2020 financial year reached 88.6-million tonnes, up from the 82.7-million tonnes shipped in the first half of 2019, with the realised price for iron-ore increasing by 73% in the same period, from $46.54/t to $80.36/t.
The miner on Wednesday said that the improved price outcomes in the first half of 2020 reflected market conditions and product mix changes within Fortescue’s portfolio, including the introduction of West Pilbara Fines.