There are forecasts of Copper at $1USD/lb early next year. This means that RIO would make no profit at all from Copper and probably a loss. Add continuing falls in all other base metals and the picture looks bleak.
Iron Ore & Coal are RIO's best hope but who knows how much these will fall when contracts are renegotiated. Steel makers everywhere are reducing production as stockpiles rise. Energy coal is about the only positive but this wont save RIO.
Too bad they believed their own hype that the commodity supercycle would last for 20 years. They went out and borrowed big to purchase assets at the very top of the cycle and now they are in trouble.
- Forums
- ASX - By Stock
- RIO
- $5 within a month
$5 within a month, page-19
-
-
- There are more pages in this discussion • 35 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add RIO (ASX) to my watchlist
(20min delay)
|
|||||
Last
$117.03 |
Change
-3.960(3.27%) |
Mkt cap ! $43.54B |
Open | High | Low | Value | Volume |
$119.62 | $120.11 | $116.75 | $150.2M | 1.263M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 30 | $117.02 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$117.04 | 8 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 74 | 117.080 |
3 | 30 | 117.070 |
1 | 25 | 117.060 |
1 | 50 | 117.050 |
2 | 105 | 117.040 |
Price($) | Vol. | No. |
---|---|---|
117.110 | 312 | 12 |
117.120 | 67 | 3 |
117.130 | 275 | 9 |
117.140 | 401 | 10 |
117.150 | 156 | 5 |
Last trade - 13.50pm 09/10/2024 (20 minute delay) ? |
Featured News
RIO (ASX) Chart |
The Watchlist
AHK
ARK MINES LIMITED
Ben Emery, Executive Director
Ben Emery
Executive Director
SPONSORED BY The Market Online