🔴 Fortescue is trading 4.1% down after quarterly shipments fell 6%

Fortescue is trading 4.1% down at A$15.36 after September-quarter shipments fell 6% year on year.

• Shipments were 46.8 million tonnes; scheduled maintenance, including port shutdowns, affected volumes.
• Sales were 42.9 million tonnes, below shipments, as China Mineral Resources Group negotiations weighed on sales.
• Net debt rose to US$2.8 billion from US$900 million in June; FY27 guidance was unchanged. Materials-sector weakness may have added pressure; supplied context reports a 4.06% fall, and trading-volume/activity data was not provided.