Fortescue's iron ore shipments fall 6% YoY in Q1 FY 27

Australian mining giant Fortescue shipped 46.8 million wet tonnes of iron ore (on a 100% basis) during the first quarter (July-September 2026) of its 2027 fiscal year, 6% lower on year and down by 11% from the previous quarter, according to the company's latest quarterly report released on October 22.

The reduction in overall sales "reflected the impact from ongoing negotiations with China Mineral Resources Group (CMRG)," the company pointed out. The miner and the state-backed Chinese iron ore buyer remain locked in annual term contract negotiations. In July, CMRG restricted domestic steelmakers from purchasing Fortescue products, as reported. "Fortescue