Tag Archive for upturn

Rio Tinto Following the Downward Trend on Raw Materials

mine-rio-tintoToday Rio Tinto PLC (RTP), the world’s largest mining company, has announced that it stroke an agreement with Nippon Steel on reducing its prices for the ore iron it supplies to the Japanese manufacturer. The price reduction (contractually agreed) amounted to as much as 30% of the previous year’s prices.
Is this good news? The market seemed to think so, since the price incresed with 7% in the hours following the announcement. Read more