RIO - Rio Tinto Group: The Pullback In Iron Ore Prices Creates A Buying Opportunity
2024-04-11 07:33:42 ET
Summary
- Rio Tinto Group is the largest iron ore producer in the world, with 80% of profits coming from the iron ore market.
- RIO stock has been influenced by the spot price of iron ore on the seaborne market.
- China's plans for fiscal and monetary stimulus are expected to support iron ore prices, leading to an upgrade of Rio Tinto Group to a buy.
There are few commodities more volatile than iron ore. While many base metals and other products that are bought and sold often have unpredictable and strong price movements, bulk metals frequently see more severe price changes....
Rio Tinto Group: The Pullback In Iron Ore Prices Creates A Buying Opportunity