Iron Ore Nearing Rio's `Fantasy Land' Shows Depth of TurmoilBy
Rio CEO Walsh said in February price of $30 was impossible
Iron ore, down 45% this year, traded at $39.06 a ton Monday
When Rio Tinto Group’s Sam Walsh, head of the world’s second-biggest iron-ore exporter, was asked 10 months ago whether the steelmaking raw material could reach $30 a metric ton, he derided it as impossible.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.