Fortescue Metals Group (FMG) is the latest mining company to have its iron ore output hit by Tropical Cyclone Veronica, although the impact on profits is likely to be offset by higher iron ore prices.

Key points: Cyclone Veronica caused Port Hedland to be closed for five days, and also caused flooding at Fortescue's railway line near the port

Cyclone Veronica caused Port Hedland to be closed for five days, and also caused flooding at Fortescue's railway line near the port BHP's production fell 3 per cent for the March quarter, and the company is reviewing its overall production for 2019

BHP's production fell 3 per cent for the March quarter, and the company is reviewing its overall production for 2019 Rio Tinto has lowered its iron forecasts already because of the cyclone

The iron ore miner has confirmed that compared to the December quarter, shipments over the March quarter fell 10 per cent to 38.3 million tonnes.

The company said the drop was due to Cyclone Veronica's devastation causing Port Hedland to be closed for five days, and also causing flooding at Fortescue's railway line near the port.

The amount of ore mined fell 2 per cent to 48 million metric tonnes during the quarter — but was 15 per cent higher compared to this time last year.

Fortescue received an average price of $US71 per dry metric tonne for its iron ore, up by nearly half from the December quarter.

FMG is expecting to ship between 165 to 170 million tonnes of iron ore for the current financial year, slightly lower than its previous forecast.

BHP production impacted

BHP reported on Wednesday that its production was lowered by 6-8 million tonnes in the March quarter — also due to Cyclone Veronica.

Production fell 3 per cent to 64 million tonnes over the March quarter (compared to the December quarter).

As a result, BHP said it was reviewing its overall production for 2019.

The mining giant lowered its guidance to between 265 and 270 million tonnes for the year — down from its previous forecast of up to 283 million tonnes.

Wet weather also impacted coking production in Queensland and at the company's part-owned Cerrejon thermal coal mine in Colombia.

Production guidance for petroleum, copper, and coal remained unchanged, even though copper and coking coal production dropped over the quarter.

UBS global head of resources Glyn Lawcock said BHP was hoping to recover strongly in the second half of the year after a disappointing first half for production.

"Unfortunately, weather played a big part in delivering a soft March quarter for BHP," Mr Lawcock said in a research note.

"All business units with the exception of Petroleum are now expected to come in towards the bottom end of the guidance range."

Rio Tinto also lowered its iron ore forecasts earlier in the week because of Tropical Cyclone Veronica.

Analysts expect iron ore prices to remain high this year.

Prices are at five -year highs above $US90 a tonne because of a shortfall caused by the fatal dam accident at a Vale mine in Brazil in January and the impact of Cyclone Veronica.