Charlie Aitkin reckons that the contract price for Iron Ore in China is going to be a lot higher than the Chinese expect. Spot prices are already well in advance of where the Chinese thought the negotiations were. Plus RIO has tidied up their balance sheet by repaying half their debt. I think they're sitting sweet. I reckon long RIO short BHP for a nice little pairs trade.
I'm putting it on this morning.
Charlie Aitkin reckons that the contract price for Iron Ore in...
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Last
$119.00 |
Change
-2.540(2.09%) |
Mkt cap ! $44.17B | |||
| Open | High | Low | Value | Volume |
| $120.56 | $120.69 | $119.00 | $216.2M | 1.800M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 130 | $118.99 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $119.13 | 1255 | 1 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| RIO (ASX) Chart |