Rio Tinto Reports Strongest Q2 Iron Ore Sales in Six Years

SEATTLE (Scrap Monster): Rio Tinto reported stable iron ore production, mainly driven by improved mine productivity and robust operational performance across its Pilbara operations. The company reported its strongest second-quarter sales performance since 2020, a news release said.

According to the company, iron ore prices averaged around $105 per dry metric tonne (dmt) during the second quarter, up 2% from the previous quarter. Production from the Pilbara region remained steady compared with the same period last year, backed by gains from productivity initiatives implemented by the company.

Second-quarter iron ore shipments increased 7% year-on-year, marking the highest quarterly sales level in six years. This was mainly due to strong supply chain performance and healthy inventory levels. Meanwhile, the company anticipates port loading capacity to fall below 360 million tonnes per year during parts of the second half of 2026 through 2028.

Global seaborne iron ore shipments also strengthened during the quarter, rising by 14 million tonnes from a year earlier, driven by increased output from West Africa and South America. Rio Tinto noted that production expenses of major suppliers worldwide has been witnessing substantial increase due to rising energy costs.

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