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That was in line with analyst expectations of 332 million tonnes. The company shipped out 331.8 million metric tons of the steel-making ingredient last year, dmt carts for sale meeting its guidance for between 320 million and 335 million metric tons for the calendar year.

China's stimulus measures have already lent support to commodity prices, Rio Tinto said, and it also expects to see an economic recovery in the euro zone gather steam later this year given that interest rates have likely peaked.

MELBOURNE, Jan 16 (Reuters) - Rio Tinto on Tuesday said that it expects stimulus measures in China to drive a slow recovery in the world's biggest steel user as it reported its second highest-ever iron ore shipments in 2023.

It received an average of $109.2 per dmt for the half. Rio Tinto's report comes as prices of iron ore, which accounts for around 90% of its underlying earnings, dmt carts for sale rose 17% over the quarter to average at $129 per dry metric tonne (dmt) as China demand revived.

The SP10 product is lower-quality iron ore than its flagship Pilbara blend. The world's largest iron ore miner has been producing more of its SP10 product while it prepares to bring on five new mines that will help boost its production to records of 345 million to 360 million metric tons in the medium term.

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