Business
Fortescue sees strong iron ore demand as China churns out record steel – Sydney Morning Herald
Andrew Forrest’s Fortescue Metals Group has lifted its shipments of iron ore by 5 per cent as strong Chinese demand underpins this year’s stunning price rally,
While many of the nation’s other top export commodities such as coal and natural gas have faced sharp falls due to various impacts of the coronavirus pandemic, iron ore has soared and remains above $US110 a tonne, providing a windfall to mining giants such as Fortescue, BHP and Rio Tinto, as well as the federal budget.
Fortescue, whose biggest shareholder is billionaire Andrew Forrest”, revealed on Thursday it had shipped 44.3 million tonnes of iron ore for the September quarter, while its cargoes…
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