Fortescue Metals Raises Annual Shipment Guidance For Iron Ore

April 30, 2020 12:37 PM AEST
Team Kalkine

Fortescue Metals Group Limited (ASX:FMG) increases the annual iron ore shipments forecast post reporting a 10 per cent increase in its March 2020 quarterly shipment.

The Company has dodged any considerable impact from the COVID-19 outbreak so far and suggests that iron ore shipments and customer payments remain unaffected.
In March 2020, FMG suggested that shipments from Port Hedland remain normal despite weather challenges; however, the miner had suspended exploration activities
The Company upgrades guidance, would now ship 175-177 million tonnes of iron ore, compared to its earlier forecast of 170-175 million tonnes.

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