Major iron ore miners are racing to boost their output amid recovering demand and ahead of traditional mid-financial year reporting due by December, market sources told Fastmarkets this week.
"The higher production and shipments from Australian miners over [the fourth quarter] is pretty normal as seen over the years. It is their way of pushing to meet their half-year targets for the financial year," a Singapore-based trader said.Fellow Australian miner BHP produced 66.04 million tonnes of iron ore in the quarter ended in September, down by 1% from the previous quarter due to maintenance on a car dumper in September, according to its 2021 financial year...