The decrease in commodity prices has affected the earnings of Australian mining giant Fortescue Metals Group (FMG). The company's net profit for the first half of the 2022-2023 financial year was $2.37 billion, down by 15% from the previous year.
During this period, EBITDA decreased by 8.6% YoY to USD 4.35 billion.
Fortescue Metals Group's iron ore decreased by 9.4% YoY to US$87 per dry metric ton. Shipments increased by 4% YoY to 96.9 million tons in this period.
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