Rio’s Albanese Sees Gyrating Prices as Markets Weigh Economy
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Rio Tinto Group, the world’s third-largest mining company, said metal prices will fluctuate further as markets weigh economic prospects for next year amid concern Europe’s debt crisis will derail a global recovery.
“We should expect more of these gyrations of all of our prices as we move forward to 2012,” Tom Albanese, chief executive officer of the London-based company, said yesterday on the Australian Broadcasting Corp.’s “Inside Business” program. “The markets are trying to react and anticipate to what they think the economy is going to look like next year.”