Rio on Track for Iron Ore Record as China's Imports Surge
- World’s No.2 supplier sticks to 330 million ton annual target
- Full-year output forecasts on copper, thermal coal lowered
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Rio Tinto Group is on track for record annual shipments of iron ore as the world’s second-largest exporter’s rail capacity increases and imports by China’s steel mills keep surging.
The company confirmed shipments from Western Australia will hit about 330 million metric tons in 2017, London-based Rio said Tuesday in its production report that showed quarterly cargoes continued to gain. The total would top the 327.6 million tons exported last year.