20
Aug
10:47
FMG profits slump as price realisation bites
Australia’s FMG saw strong shipments in the last months of the financial year ending June 2018. The low prices realised by its low-grade product caused a sharp slump in profits, however, Kallanish notes.
The miner shipped 170 million wet metric tonnes of ore in the financial year to June 2018, flat from the previous twelve months. It managed a slight -4% reduction in C1 mining costs from $12.82/wmt fob to $12.36/wmt fob, despite an increase in st…
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Anonymous
Very good overview of the weekly steel market.
Anonymous