Daily iron ore price update (Rio ups production)

by Chris Becker

Spot iron ore prices fell slightly yesterday while the short and medium term futures edged higher alongside rebar and coking prices:

Meanwhile Rio Tinto is out with a production update. Via AAP:

Mining giant Rio Tinto shipped 338.2 million tonnes of iron ore from its Pilbara operations in 2018, in line with its full-year guidance.

Shipments in the year to December 31 were up one per cent from the previous year’s 327.6 million tonnes, Rio said in a statement on Friday.

The miner shipped 87.4 million tonnes of iron ore in its fourth quarter – down three per cent from the preceding quarter – while production in the three months to December 31 was down one per cent at 86.6 million tonnes.

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