News: RIO UPDATE 1-Rio Tinto second-quarter iron ore shipments rise 3% sequentially

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July 16 (Reuters) - Rio Tinto (RIO) RIO.L reported a 3% sequential rise in second-quarter iron ore shipments on Tuesday, as improved weather conditions led to higher production after a maintenance-heavy March quarter.

The firm's upbeat report comes as hopes for more stimulus from top consumer China has helped iron ore prices rebound recently after tepid steel demand from the country led to a dull first half.

The world's largest producer of iron ore shipped 80.3 million tons (Mt) of the steel-making commodity from its Pilbara operations in the three months ended June 30, compared with 78 mt in the first quarter.

That missed Visible Alpha consensus estimate of 82.1 Mt. Rio Tinto reaffirmed its annual iron ore shipments forecast of between 323 and 338 Mt.

The company, however, lowered its annual alumina production estimates to a range of 7.0-7.3 Mt from 7.6-7.9 Mt, reflecting reduced operation rates at its Gladstone operations.