Why do some posters think that RIO's share price is so connected to the iron ore price that a movement in the latter is going to guarantee movement in the former? An overlapping chart comparing the price history of IO and RIO clearly shows it isn't as broadly connected as some think.
Last October the price of IO was a couple of dollars less than it is today yet RIO's share price was nearly 25% higher!!
Sure, given the fact that most of RIO's profit is derived from the sale of IO, the price of that commodity is important to the share price but there are any more (and some would argue more important) factors than the price of IO that dictates the share price of RIO.
ore up 8.42%, page-42
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Last
$110.41 |
Change
2.060(1.90%) |
Mkt cap ! $40.98B | |||
| Open | High | Low | Value | Volume |
| $109.22 | $110.41 | $108.55 | $128.8M | 1.171M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 199 | $110.33 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $110.41 | 3397 | 2 |
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| Last trade - 16.10pm 12/09/2024 (20 minute delay) ? |
| RIO (ASX) Chart |