Fortescue hikes iron ore shipments outlook

Fortescue hikes iron ore shipments outlook

Fortescue Metals has hiked its annual iron ore shipments forecast after it reported a 10 per cent rise in third-quarter shipments and said it had managed to keep a lid on costs amid the coronavirus pandemic. The company, one of the big four global iron ore miners, has...
Fortescue hikes iron ore shipments outlook

Gold prices fall on firmer equities

Gold has fallen as optimism around the easing of coronavirus-led lockdowns and hopes of a potential treatment drug propped up risk assets, while investors awaited the US Federal Reserve’s monetary policy statement later in the day. Spot gold fell 0.4 per cent to...
Fortescue hikes iron ore shipments outlook

Copper hits 6-week peak on stronger demand

Copper prices climbed to a six-week high as the prospect of stronger demand in top consumer China and output disruptions outweighed expectations of rising supplies from producers emerging from new coronavirus lockdowns. Traders said copper rose on some purchases in...
Fortescue hikes iron ore shipments outlook

Aussie shares to gain on virus drug hopes

Shares on the Australian market are set for gains after US stocks surged overnight after promising results for a COVID-19 treatment. The Australian SPI 200 futures contract was up 108 points, or 2.01 per cent, at 5,468.0 points at 0700 AEST on Thursday. Big tech...
Fortescue hikes iron ore shipments outlook

Oil gains after crude storage build slows

Oil prices surged more than 10 per cent after US crude stockpiles grew less than expected and gasoline posted a surprise draw, feeding optimism that fuel consumption will recover as some European countries and US state ease coronavirus lockdowns. Crude prices crashed...