Ann: Quarterly Activities & Cashflow Report, page-7

Fortescue is now shipping huge volumes to India.   Why? The price is better.

"Fortescue Metals Group doubled iron ore sales outside China to 8 per cent in the year through June, and has experienced strong growth in cargoes to India, Chief Executive Officer Elizabeth Gaines said in an interview in August."

'Better price'

Inbound cargoes from April through July, the first four months of the current fiscal year, were 5.5 million tonnes (mt), more than three times shipments in the year ago period, according to Commerce Ministry data. By contrast, exports dropped 40 per cent on year to 5.1 mt. Australia's government expects annual imports to rise to 19 mt by 2020, with exports at 8 mt.

"Wherever you get a better price, better availability, people will go for that. You cannot restrict that," said Mukherjee, who runs the iron ore arm of billionaire Kumar Mangalam Birla's Aditya Birla Group. "Earlier, people were talking about quantity, today they are talking about quality. If at a good price they get good quality and low aluminum, they will jump on that."

https://www.business-standard.com/a...-to-buy-iron-ore-overseas-118101100076_1.html