Rio Tinto, the world’s second-largest iron ore producer, has recently announced its Q2 2016 production results. The company produced around 160 MnT iron ore and shipped 158.9 MnT iron ore in H1 2016.
The company has managed to produce around 80.9 MnT iron ore in Q2 2016 (i.e. Apr-Jun’16) and shipped 82.2 MnT in the same time frame. Production is down by around 3.6% Q-o-Q in 2016.
However, on Y-o-Y basis, the company has gained production growth by 8% as compared to Q2 2015. On similar lines, the company has registered a growth of around 6% in iron ore shipments.
The miner continuous to supply low-grade iron ore in the global market amid a recovery in global iron ore prices. The average sales price in the first half of 2016 was USD 44.5/WMT.
In Q1 2016 (i.e. Jan-Mar’16) , the company managed to produce around 84 MnT iron ore and shipped 80.8 MnT in the same time frame mentioned above. Iron ore production was up by 13% as compared to Q1 2015, on similar lines, iron ore shipments were also up by 11% as compared to Q1 2015.
Rio Tinto expects its iron ore production from the Pilbara to be between 330 and 340 MnT in 2017 compared to a forecast of 330 MnT in 2016.
Leave a Reply