29
Aug
05:36
Fortescue’s annual profit falls on lower ore prices
Australian miner Fortescue Metals saw net profit for the financial year ended 30 June 2022 (FY22) tumble 40.12% on-year to $6.2 billion on lower iron ore prices, Kallanish notes.
The miner's revenue for the year fell 21.96% to $17.39 billion due to the reduction in iron ore benchmark price and average price realisation.
The group earned average revenue per dry metric tonne (dmt) of iron ore of $99.80 as compared to $135.32/dmt a year earlier.
Its C1 cost st…
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Anonymous
Very good overview of the weekly steel market.
Anonymous