[Ferro-Alloys.com]  Fortescue has released its June 2019 quarterly production results, reporting record quarterly shipments of 46.6 million tonnes (mt) including 4.7mt of West Pilbara Fines and FY19 shipments of 167.7mt, one per cent lower than FY18 due to the impact of Cyclone Veronica.

C1 costs of US$12.78 per wmt, five per cent lower than the March quarter (US$13.51/wmt).

Average revenue received increased by 30 per cent to US$92 per dry metric tonne (dmt) compared to the March quarter of US$71/dmt.

The steel price index issued by the China Iron and Steel Association (CISA) stood at 109.45 points by the end of June, down 1.49 percent from the previous month and marking a 5.48-percent slip compared with the same period last year.

The price drop, withstanding a cost hike caused by more expensive raw materials like iron ore, was the result of stable demand balanced out by supply upticks, the CISA data showed.

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