Categories: India

UPDATE 1-Rio Tinto's third-quarter iron ore shipments rise 6% sequentially

(Updates with details and background in paragraphs 4 and 5) Oct 14 (Reuters) – Rio Tinto reported a 6% sequential rise in third-quarter iron ore shipments on Tuesday, despite planned major maintenance activities and infrastructure works which will continue in the fourth quarter. The world's biggest iron ore producer shipped 84.3 million tonnes (Mt) of the steel-making commodity from its Pilbara operations in the three months ended September 30, compared with 79.9 Mt shipped in the previous quarter. That marginally missed the Visible Alpha consensus estimate of 85.5 Mt. Four cyclones have disrupted schedules early this year, prompting Rio Tinto to forecast its 2025 shipments at the lower end of its 323 million to 338 million tonnes range. The company is expecting total copper output for the year to come in at the higher end of its expected range, reflecting the strong ramp-up at its Oyu Tolgoi mine. (Reporting by Rishav Chatterjee & Rajasik Mukherjee in Bengaluru; Editing by Pooja Desai)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

Indianews Syndication

Recent Posts

Analysis-David Ellison's appointment of Kreiz brings cost-cutter to Paramount-Warner Bros Discovery

By Deborah Mary Sophia and Neil J Kanatt Oct 1 (Reuters) - David Ellison's choice…

1 minute ago

US TREASURY SAYS $46.39 BLN OFFERED IN 10-20 YR BUYBACK OPERATION

US TREASURY SAYS $46.39 BLN OFFERED IN 10-20 YR BUYBACK OPERATION (The article has been…

8 minutes ago

Analysis-David Ellison's appointment of Kreiz brings cost-cutter to Paramount-Warner Bros Discovery

By Deborah Mary Sophia and Neil J Kanatt Oct 1 (Reuters) - David Ellison's choice…

12 minutes ago

Soccer-Messi becomes the majority owner of Spanish club Eldense

Oct 1 (Reuters) - Lionel Messi has completed the acquisition of Spanish second-tier side CD…

19 minutes ago

Fritz, Ruud, Nakashima exit as upsets hit Japan Open

VIDEO SHOWS: ATP 500 JAPAN OPEN FIRST ROUND HIGHLIGHTS  COMPLETE SHOTLIST TO FOLLOW SHOWS: TOKYO,…

20 minutes ago

Fed's Kashkari expects more rate hikes, unsure on need to act this month

By Michael S. Derby NEW YORK, Oct 1 (Reuters) - Minneapolis Federal Reserve President Neel…

23 minutes ago