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Sa2ri
19.01.2021 kl 08:49 646

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« Drybulk: Rio Tinto guides 2021 iron production of 325 – 340m tonnes – flattish y/y

- Australian miner Rio Tinto published an operational review this morning in which the company guides 2021 iron ore shipments of 325 – 340m tonnes on a 100% basis

- 331m tonnes were shipped in 2020, up 1% y/y from 2019 and broadly in line with production of 333m tonnes. The company sites strong demand from China driven by fiscal stimulus as the main driver in 2020, which saw iron ore prices increase 70%

- Going into 2021, Rio Tinto expects continued stimulus from authorities, especially in Europe, Japan and Korea, to boost demand in response to the resurgence in Covid cases. The trade dispute between Australia and China was not mentioned (as it appears to be concentrated around other products) but will remain key to watch in the drybulk marked seeing as Beijing imports some 60% of its iron ore from Australia»
Redigert 21.01.2021 kl 08:44

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