According to the company’s statement, a total of 50.5 million wet metric tons of iron ore were shipped in the three month period ended 31 December. The increase in shipments was supported by strong overseas demand.
However, expectations that prices in the Chinese market may weaken are creating concern across the industry. Discussions with Chinese buyers increasingly point to lower price levels, putting pressure on the near term outlook for Australian producers. It is anticipated that a steady rise in China’s iron ore inventories through 2025 could lead to lower price negotiations for shipments to the country.
On the production side, high grade hematite ore output decreased by 8% year on year to 52.0 million tons. In contrast, production at Fortescue’s Iron Bridge project in Australia’s Pilbara region increased by 71% over the same period, reaching 9.4 million tons. Hematite production costs increased by 5% year on year to USD 19.10 per ton.
Fortescue, one of the world’s largest iron ore producers, made no changes to its outlook for 2026. The company expects full year iron ore shipments to be in the range of 195 to 205 million tons, while production from the Iron Bridge project is forecast at 10 to 12 million tons. Fortescue also projects annual unit costs for hematite at USD 17.50 to 18.50 per ton.
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