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Arrium’s September quarter iron ore shipments hit record 3.45m tonnes

Australia’s Arrium Mining and Materials shipped a record 3.45 million tonnes of iron ore during the September quarter, a 10% year-on-year increase.

October 20, 2014
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It reached its targeted annualised sales rate of 13 million tpy, according to Arrum’s filing with Australian Securities Exchange on Monday October 20.

Arrium achieved an average realized price of $73 per tonne cfr during the July-September period, a 14% drop from the preceding quarter.

“Realised price for the quarter was impacted by the decline in market prices, the timing of price adjustments and discounts including for grade and impurities,” the miner noted.

The September quarter average for Metal Bulletin’s 62% Fe Iron Ore Index stood at $90.45 per tonne cfr, down 12% from the June quarter.

Arrium recorded an average cash cost of A$45.6 ($40) per tonne in July-September, down by A$0.30 ($0.26) per tonne from previous quarter, and down 7% from A$49.0 ($43) from year-earlier levels.