Australian iron ore miner Fortescue:
- Reported a 1% increase in the three months to September 30 for iron ore shipments ... down 1.18%t on the previous June quarter.
- Maintained its full-year forecast of shipping 165 million tonnes of iron ore
- "Physical demand for Fortescue's product remains strong despite the softening of steel markets in China,"
- "The recent price stability reflects general supply/demand balance in iron ore markets as evidenced by the relatively constant level of Chinese port stocks, approximately 80mt, during the quarter."
