26
Jul
12:34
FMG hits record output but tight margins
Australia’s FMG hit record shipments in the June quarter while cutting costs, according to its quarterly production report. Low price realisations continue to eat into margins however, Kallanish notes.
The miner shipped 46.5 million wet metric tonnes of ore in the June quarter, 20% more than the previous quarter and 4% up year-on-year. Its C1 cash costs meanwhile were roughly flat y-o-y and down 7% on the quarter to $12.17/wmt. This was despite a 23% q-o-q…
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Anonymous
Very good overview of the weekly steel market.
Anonymous