0541 GMT - Rio Tinto's third-quarter production update is in line with expectations, RBC Capital Markets analyst Ben Davis writes. Pilbara iron ore shipments were as expected, copper output was 2% ahead while aluminum output was 6% below consensus views, he says. All guidance was backed apart from lithium output, which is now seen at the lower end of the guided range due to the slower ramp-up at Sal de Vida in Argentina, he writes. Overall, the update should only drive minimal changes to consensus earnings estimates, he says. In Sydney, shares are down 0.3% at A$160.48.
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