Fortescue's iron ore shipments up by 5% YOY in Q1 FY2020

Australia's Fortescue Metals Group has posted a 5.Asian Metal Copyright Chinese demand for high-quality ore is expected to accelerate in 2020 amid a pollution crackdown, which has forced steel mills to turn to higher-grade, less polluting ore to cut emissions and maximize output.Asian Metal Copyright0 per cent rise in first-quarter iron ore shipments in the fiscal 2020, buoyed by sustained demand for the steel-making ingredient from China.

It shipped 42.2 million tonnes in the quarter ended September 30, compared with 40.Asian Metal Copyright The miner reiterated plans to deliver 17 million to 20 million tonnes of its mid-grade product in 2020, about twice as much as last year.Asian Metal Copyright2 million tonnes a year earlier and maintained its fiscal 2020 iron ore shipments forecast between 170 million and 175 million tonnes.

Chinese demand for high-quality ore is expected to accelerate in 2020 amid a pollution crackdown, which has forced steel mills to turn to higher-grade, less polluting ore to cut emissions and maximize output.

The miner reiterated plans to deliver 17 million to 20 million tonnes of its mid-grade product in 2020, about twice as much as last year.

.Asian Metal Copyright The miner reiterated plans to deliver 17 million to 20 million tonnes of its mid-grade product in 2020, about twice as much as last year.Asian Metal Copyright