Iron ore price, page-34206

Sachs are notorious at making these statements and when you read this:

Rio Tinto faces a battle to achieve full-year guidance for its flagship iron ore business after heavy rain, labour shortages and a new approach to cultural heritage issues hit shipments. In a quarterly update on Friday, the world’s biggest iron ore producer said it exported 76.3m tonnes of the steelmaking ingredient in the three months to June, down 12 per cent on the same period a year ago. Chief executive Jakob Stausholm said Rio had faced “some challenges” at its Pilbara operations in Western Australia, including materially higher rainfall and coronavirus-related labour shortages that hampered its ability to close old mines and bring replacement projects into its system. (Financial Times)

Look at their guidance on CBA - have posted SELL since CBA passed $50 - and have now amended as $80 valuation and still sell.

DYOR