Rio Tinto Iron Ore Exports Steady as China Steel Demand Plateaus

Rio Tinto Group’s third-quarter iron ore shipments were steady from the year before, as the major producer invests heavily to maintain output despite plateauing Chinese demand for steel.

The miner exported 84.3 million tons of the steelmaking ingredient over the three months ended September, it said in filings Tuesday. That was 6% higher than the previous quarter. Rio maintained full-year guidance of 323 million tons to 338 million tons.