Fortescue Q3 Shipments Rise 6% Amid Disruptions

Fortescue, the world's fourth-largest iron ore producer, reported a 6% increase in third-quarter shipments to 46.1 million metric tons, overcoming disruptions from a train derailment and a five-day closure of Port Hedland due to tropical cyclones. The company achieved record nine-month shipments totaling 143.2 million tons and remains on track to meet its annual guidance of 190–200 million tons. Third-quarter production costs at its Australian hematite mines fell to US$17.53 per wet ton, reflecting operational efficiencies and favorable exchange rates. The ramp-up of the Iron Bridge magnetite project contributed 1.5 million tons to quarterly shipments, with up to 9 million tons expected for the full year. Most of Fortescue's iron ore continues to be exported to China for steel production. Analysts indicated the results were largely in line with market expectations.