Fortescue Metals Group surged more than 8% today after the iron ore giant released its quarterly operating performance report. FMG reported record shipments of iron ore for the 9 months to the 31st March 2022, and raised its export target for the year to expect a third consecutive year of record shipments, of between 185 and 188 million tonnes.
The metals and mining sector led gains on the key index today with Sandfire Resources soaring 11.15%, while Syrah Resources added almost 8% and Red 5 jumped 7.7%.
The ASX rebounded from losses earlier in the week to close higher on Thursday, as every sector aside from communications and gold stocks closed in positive territory.