Iron ore prices continue to rise, with 58% fines leading the way as the Chinese economy continues to maintain its strength, despite the threat of more tariffs.
The latest news out of the company is its quarterly activities report which reveals the extent of the disruption caused by Cyclone Veronica. We will look at the outlook for its share price.
The latest news out of the company is the release of its first quarter production results which reveal reduced iron ore shipments. We will have a look at Rio Tinto’s prospects going forward.
Iron ore spot prices are up again, close to a multi-year record on weather disruptions in China and Australia. The share prices of Fortescue Metals Group Ltd and Rio Tinto Ltd could benefit.
The major iron ore miners have had a good day today. The gains can be attributed to two events in two countries - China and Brazil.
This morning, the ASX market wiped as much as $22 billion off of its value, as nervous traders shied away from global market slumps. Currently, the S&P/ASX200 index is down 1.21% or 74.9 points to 6120.30.
Iron ore prices are up again as fresh news of further Brazilian production cuts filter through the market. Picking the overall trend here is tricky as each bit of news out of Brazil has shifted the market, despite the various factors internal to China.
At time of writing, Rio Tinto’s share price is at $92.05, down 1.40%. This year has seen shares of Rio hit a multi-year high of $97.29 on the back of a surging iron ore price.
Following a good start to trade this morning on the ASX, Rio Tinto Limited [ASX:RIO] share price is up 2.84% to $74.05. The move comes after the company hit a three month low yesterday of $72.00.
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