Fortescue Metals Group expects to trim its costs further this year and is targeting steady iron ore shipments in the 2018 financial year after posting a solid fourth quarter performance.

The world's fourth-largest iron ore exporter shipped 44.7 million tonnes of iron ore in the three months to June 30, 3 per cent higher from a year earlier, but a 13 per cent jump on the weather-affected third quarter.

That took full-year shipments to 170.4mt, just above the company's guidance of 165mt to 170mt.

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