(MENAFN) The world's second-largest iron ore exporter Rio Tinto's iron ore shipments increased a bit more than anticipated in Q3, as it has shipped 85.8m tons of iron ore, up 6% from 2016.
CEO Jean Sebastien Jacques said the miner is doing good with reforms at the main Pilbara iron ore, which has included lately operations at the Silvergrass mine and multiplying the use of the AutoHaul automated train system.
The strong results comes in the middle of recent progress in iron ore demand and costs, as China, the No.1 customer maintains steel production against expectations.
According to official trade data, the Chinese imports of iron ore increased 16% last month to 102.83m tons, exceeding the 100m ton level for the first time, which has led to strong recovery in iron ore prices in the final sessions to around 36 USD/ton.
MENAFN1710201700450000ID1095956584
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.