RIO misses iron ore target as expected

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From RIO’s Q2 quarterly production update:

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Shipments will have to accelerate in H2 to 170mt plus. That’s 11mt lower than last year but 12mt higher than the first half. It will pressure prices.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.