Rio Tinto iron ore exports surge

According to The Australian Financial Review, the miner shipped 88.5 million tonnes during the three months to June 30, which was broadly in line with analyst estimates.
Rio has vowed to ship between 330 million and 340 million tonnes of iron ore from Western Australia in 2018, and is on track to achieve that goal at the half way mark, having shipped 168.8 million tonnes since January 1.
Rio's strong output in the June quarter coincided with Brazilian miner Vale shipping a record volume of iron ore in the same period; Vale produced 96.8 million tonnes and sold 86.5 million tonnes during the period.
The extra supply appears to have weighed on prices for iron ore in recent weeks.
Rio said it received an average of $US63 per tonne for its iron ore in the first half of 2018.

Ref: https://www.afr.com/business/mining/rio-tinto-iron-ore-exports-surge-20180716-h12rp9

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