Australia: Rio Tinto iron ore shipments down 12% y-o-y in Q2 CY’21

Rio Tinto’s iron ore shipments have moved down by 12% y-o-y to 76.3 mn t in Q2 CY’21, with some additional drawdown in inventories. The company’s iron ore production stood at 75.9 mn t during the period, 9% lower y-o-y, driven by above-average wet weather at mines and fixed plant reliability. Ongoing Covid-19 restrictions, above-average rainfalls and labour resource unavailability have further disrupted shipments.