FMG 0.18% $21.86 fortescue ltd

We are business as usual currently on track for FY20 guidance of...

  1. 30 Posts.
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    We are business as usual currently on track for FY20 guidance of 170 -175 wmt tonnes. Which leaves 81..4 - 86.4 wmt to be shipped this half.
    Also note that FMG's Total Delivered Cost was US$29 per dmt last half.

    Iron ore price for Q3 FY20 (almost)
    sorry jumped the gun a little:

    January Average 62% FE iron ore price: US$92.85
    February Average 62% FE iron ore price: US$86.40
    March Average (almost) 62% FE iron ore price: US$88.41
    Q3FY20 Average 62% FE iron ore price: US$89.39
    Q3 FY20 Median 62% FE iron ore price: U$90.1
    https://hotcopper.com.au/data/attachments/2065/2065892-ecfac053346628dde95e14c9dc0cd323.jpg
    As you can see, the price of 62% FE iron ore has been quite steady over the period too.

    I'm not aware of what discount FMG are giving on each iron ore product, so at a 10% discount collectively, FMG's average realised price for the quarter would be US$80.45 and 15% discount collectively would be US$75.98. Aussie dollar also sitting quite low and I don't have to drum on about the implications of that.

    Note:
    *The above prices are gathered and averaged only from weekdays.

    My two cents is that operationally, FMG is running very well and profit margins remain quite high.

    Also, stay safe all

    DYOR
 
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