"Rio Tinto said on Wednesday it saw a sharp V-shaped recovery in China as stimulus spurred industrial activity, helping its first-half profit handily beat market expectations.
Rio Tinto is the first of the major iron ore miners to report results from a first half marked by coronavirus-induced disruptions but also by high iron ore prices.
“We believe that China has enjoyed a very steep V-shaped recovery,” CEO Jean-Sébastien Jacques said on a call.
“Today we see it as that the demand for steel and iron ore in China is very, very strong and order books are full,” Jacques said."
Compare Rio's statement with Henry's complaint that China has been difficult since CV-19.
Either Rio is lying or Henry needs a good kick up the rear end.
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