2337 GMT - Rio Tinto's strong sales of its low-grade SP10 iron ore suggests demand for the steelmaking ingredient remains firm, Morgans' analyst Adrian Prendergast says in a note. The market's confidence in China's steel market in 2025 has been "understandably" rattled by the country's economic slowdown and the risk of a trade war with the U.S. "But pleasingly these tons are being digested by the global markets," Prendergast says. SP10 volumes accounted for 25% of Rio Tinto's shipments in 4Q, higher than in the first three quarters of 2024, when it accounted for closer to 18%.(rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
January 16, 2025 18:37 ET (23:37 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。