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Will Miners’ Production Records Pressure Iron Ore Prices?

Annie Gilroy
Will Miners’ Production Records Pressure Iron Ore Prices?

Recently, iron ore miners (XME), including BHP (BHP), Rio Tinto (RIO), and Vale SA (VALE), released their operational reviews for the quarter that ended in June. Iron ore (PICK) volumes are key to these companies’ revenues and earnings because it’s the biggest commodity they produce. BHP’s iron ore production for fiscal 2018 (the year that ended on June 30) hit a record, coming in at 275.1 million tons—higher than its guidance of 272 million–274 million tons.