BHP shipments seen beating estimates in quarter; Rio broadly in line, Jefferies says
BUZZ-BHP shipments seen beating estimates in quarter; Rio broadly in line, Jefferies says ** Jefferies says BHP BHP.AX shipments in first quarter screen above expectations, while Rio Tinto's RIO.AX quarterly shipments are broadly in line, per its shipping data
** Shares of BHP down 1.6%, while Rio falls 1.6% and Fortescue FMG.AX slips more than 2%
** Jefferies estimates BHP's Western Australia Iron Ore(WAIO) shipments of 66.2 million metric tons for quarter, 2.6% above Jefferies' own expectations and 4.7% higher than the Visible Alpha consensus
** Expects shipments to come in strong despite industrial action
** While Rio's shipments are expected to broadly come in line with consensus, Fortescue's quarterly estimate below consensus, pressured by fewer departures
** All three miners will post their quarterly production figures later this month, with Rio slated to report first on October 14
(Reporting by Nichiket Sunil in Bengaluru)
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