Fortescue's Iron-Ore Shipment Goal Slipping out of Reach -- Market Talk

Dow Jones04-24

0244 GMT - Fortescue expects to hit the lower end of its annual iron-ore shipment target, but RBC Capital Markets thinks that is too much of a stretch. Fortescue had forecast total iron-ore shipments of between 192 million-197 million tons in FY 2024, but faced disruptions in 3Q from an ore car derailment and bad weather. "While guidance has been maintained, albeit at the low end, it implies that Fortescue will need to ship 52 million tons in 4Q to hit the low end of guidance," analyst Kaan Peker says in a note. RBC forecasts annual shipments of 190 million tons. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

April 23, 2024 22:44 ET (02:44 GMT)

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Fortescue had forecast total iron-ore shipments ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7129","symbol_name":"钢铁","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2429747991","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2429747991","pubTimestamp":1713926640,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0244 GMT - Fortescue expects to hit the lower end of its annual iron-ore shipment target, but RBC Capital Markets thinks that is too much of a stretch. 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