Australia: FMG iron ore shipments increase 6% y-o-y in FY ’20

Fortescue Metals Group – world’s 4th largest iron ore producer achieved record shipment in FY ’20 (Jul ’19-Jun ’20) at 178.2 mn t, exceeding the set target of 177 mn t. The miner has set guidance of 175-180 mn t for FY ’21. It also witnessed 6% rise in iron ore shipment to 89.6 mn t in H1 CY ’20, as against 84.9 mn t in H1 CY ’19.