FMG 1.10% $19.76 fortescue ltd

Iron ore price, page-19561

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    Notwithstanding the fact that the increased cost of shipping is a concern, it is also important to note that shipped quantity went up 7% (so theoretically costs could be expected to go up 7% also) - doesn't explain the whole increase, but does offset it slightly (i.e. all remaining equal we could have expected that it increased to $650m due to increased shipped quantities).
 
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