Company Of The Day: Rio Tinto

+33.68%
Upside
62.72
Market
83.85
Trefis
RIO: Rio Tinto logo
RIO
Rio Tinto

What?

Iron ore futures fell by more than 20% last week, trading at under $100 per ton in New York. This is likely to hurt large iron ore producers such as Rio Tinto (NYSE:RIO), which derives over half its revenue from iron ore.

Why?

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China is taking steps to clean up its highly polluting industrial sector, impacting steel demand. There has also been a downturn in China’s property sector, which could also hurt demand.

So What?

Rio Tinto stock declined by about 7% over the last five trading days.

See Our Complete Analysis For Rio Tinto

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