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Iron Giants Shipment Targets Seen Under Threat by Macquarie

  • Rio Tinto expected to miss full-year guidance, bank says
  • Iron ore posts first consecutive monthly losses since 2015
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Australia’s biggest iron ore producers shipped less than expected in the past three months, jeopardizing their ability to meet full-year guidance, according to Macquarie Group Ltd.

Data from Western Australia’s key iron ore terminals indicate exporters moved combined cargoes totaling about 209 million metric tons in the three months to Sept. 30, compared with a Macquarie forecast of 216 million tons, the bank said.