Rio Tinto: Short-Term Challenges, Long-Term Potential
RIORio Tinto(RIO) Seeking Alpha·2024-08-28 13:07

BJP7images/iStock via Getty Images Investment Thesis Rio Tinto's (NYSE:RIO) share price is down 14 percent year-to-date, off the back of a declining iron ore price and demand uncertainty. Could this be a time to add to my long position in Rio Tinto? Chinese demand for iron ore has likely plateaued, and emerging economies (like India) will be unable to pick up the slack in the short term. Due to changes in the steelmaking process, the demand profile for iron ore is expected to shift to high-grade ore. Goals ...