Australia's Fortescue Metals logs 5% rise in first-quarter shipments

Credit: REUTERS/© David Gray / Reuters

Australia's Fortescue Metals Group Ltd on Thursday posted a 5% rise in first-quarter iron ore shipments, helped by resilient demand from China for the steel-making material.

Oct 24 (Reuters) - Australia's Fortescue Metals Group Ltd FMG.AX on Thursday posted a 5% rise in first-quarter iron ore shipments, helped by resilient demand from China for the steel-making material.

The world's fourth-largest iron ore miner said it shipped 42.2 million tonnes in the quarter ended Sept. 30, compared with 40.2 million tonnes a year earlier.

An average of 3 brokerages estimated quarterly iron ore shipments at 42.6 million tonnes.

(Reporting by Rushil Dutta and Shriya Ramakrishnan in Bengaluru; Editing by Shounak Dasgupta and Shailesh Kuber)

((Shriya.Ramakrishnan@thomsonreuters.com;))

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