July 16 (Reuters) - Global miner Rio Tinto (RIO) reported a 3.5% drop in second-quarter iron ore shipments on Tuesday, as disruptions caused by a cyclone in late March squeezed output in the April-June period.
The company shipped 85.4 million tonnes of iron ore, the key ingredient in steelmaking, in the quarter ended June 30, down from 88.5 million tonnes a year earlier. Brokerage UBS had estimated quarterly shipments of 85.2 million tonnes. (http//bit.ly/2LUVXVu)
Despite the second-quarter drop, Rio Tinto maintained its annual iron ore shipments forecast in the 320 million to 330 million tonnes range.
News: RIO Rio Tinto quarterly shipments fall 3.5% on cyclone disruption
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