Rio Tinto Q2 iron ore shipments rise 1.5pc

Anglo-Australian miner Rio Tinto on Friday reported a 1.5 per cent rise in iron ore shipments for the second quarter, supported by strong Chinese demand for the steelmaking ingredient.

The world’s largest iron ore miner shipped 86.7 million tonnes of the commodity in the quarter ended June 30, compared with 85.4 million tonnes a year earlier.

UBS and Bernstein on average had expected shipments of 88.1 million tonnes.

The miner said it was on track to meet its fiscal 2020 iron ore shipments forecast.

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