Rio Tinto Share Discussion Threads

[ammons] 28/10/2022 15:43

Added some just now. Under 45 squids.

[sundial1] 28/10/2022 11:15

be dropping more after Christmas if not before

[muscletrade] 28/10/2022 10:30

:) It works sometimes, and sometimes it doesn't.

[eurofox] 28/10/2022 10:13

added some today - you are a patient man muscletrade

[muscletrade] 28/10/2022 10:03

Courtesy of "trading economics" this morning

Prices for iron ore cargoes with a 63.5% iron content for delivery into Tianjin fell to $89 per tonne, the lowest in 23 months, as recession fears and expectations of lower demand continued to pressure prices. Peak construction-led steel demand in top consumer China has come to an end and industry insiders report that activity has failed to recover, while Chinese iron ore imports from January-September are 2.3% lower compared to last year. Supply pressures were also seen lower as Covid cases waned, easing chances of any lockdowns in production hubs. In the meantime, stronger than expected growth data from China failed to spur confidence in activity as the reshuffle of the China’s politburo tightened Xi Jinping’s grasp on the country and got rid of market friendly technocrats, stoking fears of poor growth in the future.

I have been waiting patiently for many months for decent entry point.Outlook for Iron Ore prices still poor in my view and continue to wait.(possibly in vain).

[tuftymatt] 28/10/2022 09:26

Yeah in for a few more myself today spud.
Agree the divi is solid and in time another £5 a share will be back too 👍🏻

[spud] 28/10/2022 08:24

Got my final fill this morning and happy with my average.Time to sit back, watch the AIM gyrations and collect a healthy dividend.spud

[philanderer] 27/10/2022 13:43

Read across from AAL numbers.

[j4ckthehat] 26/10/2022 16:39

Possibly yields and dollar dropping in the States, all the metals are flying

[tuftymatt] 26/10/2022 16:39

The US happened.

[stewart64] 26/10/2022 15:29

Wow what a turn around this afternoon, from daily loser to winner. What happened?

[anhar] 19/10/2022 10:27

Forecast divi for 2022 predicted to fall to US 556¢ and to fall further to 469¢ for 2023 according to the source I use. Just forecasts but if they prove realistic this still leaves the share on a high yield, but also illustrates the divi volatility that I mentioned above. The £/$ rate will also affect the sterling values, exacerbating the volatility for us, though generally favourably during the long term past.

I've held for years, primarily for income, and will continue to do so.

[philanderer] 19/10/2022 10:19

Goldman Sachs cuts Rio Tinto price target to 6,200 (6,300) pence - 'buy

[action] 19/10/2022 09:14

Did RIO warn that commodity cycle boom is coming to an end?

[tuftymatt] 19/10/2022 08:20

I think we can get to 5000 again and with a decent divi too this will look attractive if it does drift a bit closer to 4500. Hopefully it wont drift though and will stay in the 4700's 👍🏻

[philanderer] 19/10/2022 00:11

FWIW , after Q3 production numbers....


Barclays analyst Amos Fletcher reiterate his Sell rating on the stock. The target price is unchanged and still at GBX 4500.

Initially Neutral on the company, RBC's analyst Tyler Broda maintained his recommendation. The target price remains set at GBX 4600

Analyst Dominic O'Kane from JP Morgan research gives the stock a Neutral rating. The target price is unchanged and still at GBX 5450.

[tuftymatt] 18/10/2022 12:48

Solid in my meaning was bigger than most. Yes agree it moves but it's well over market average.

[anhar] 18/10/2022 12:43

I'm a long term holder of RIO in my income port but I wouldn't describe their divi as "solid". It's not progressive but varies with earnings which are cyclical in this industry so that in poor years they are very likely to reduce it, in the same way that they increase it substantially in the good times.

Long term the average divis have been good but do suffer from volatility year on year.

[tuftymatt] 18/10/2022 11:46

A few challenges in that but I still think sub £49 represents good long term value and a solid divi too.

[florenceorbis] 18/10/2022 08:29

Rio Tinto PLC on Tuesday downgraded its refined-copper production guidance for 2022 and said it expects Australian iron-ore shipments to be at the low end of an earlier forecast range. Here are some remarks from its third-quarter operational report.



On its iron-ore shipments:

"We produced 84.3 million [metric tons] in the third quarter, 1% higher than the corresponding period of 2021, and 7% higher than the prior quarter with continued commissioning and ramp-up of Gudai-Darri and Robe Valley. We produced less SP10 this quarter compared to the prior quarter.

"Third quarter shipments of 82.9 million tons were 1% lower than the third quarter of 2021, and 4% higher than the prior quarter despite two unplanned rail outages on the Yandicoogina and Gudai-Darri lines. The investigation into the Gudai-Darri derailment is ongoing. There were some encouraging performance trends in the third quarter in relation to mine material movements, build-up of run of mine ore stocks and continued ramp up of new projects."



On the iron-ore market:

"Iron ore Platts CFR prices trended down from $120/dmt [dry ton] to $96/dmt during the third quarter as the loss of confidence in China's property market and Covid-related disruptions to construction activity curtailed China's steel production and consumption by circa 9% August year to date versus the same period of 2021. The major iron ore producers shipped the same aggregate volume during the first three quarters of 2022 as they did over the same period of 2021. With supply from other producers down 17% year to date--due to, among other factors, the war in Ukraine and export taxes in India--total seaborne supply contracted 4.5% during August year-to-date versus the same period of 2021."



On its aluminum production:

"Aluminum production of 0.8 million tons was 2% lower than the third quarter of 2021, and 4% higher than the prior quarter as the Kitimat smelter continues to ramp up and Boyne smelter cell recovery efforts progress as expected. The Kitimat pot restarts are progressing but structural issues with the alumina conveyor system caused disruptions through the quarter slowing the rate of pot restarts. We continue to focus on full recovery during the course of 2023."



On the aluminum market:

"The LME aluminium price extended further losses, dropping 20% over the quarter, averaging $2,354/ton. Additional smelter curtailments in Europe and China on high power prices and low hydropower generation, respectively, were insufficient to offset the weak macro environment. Aluminium demand has deteriorated, especially in Europe, which placed downward pressure on prices. Shipments in the U.S. and Canada have been resilient and there are signs of improvement in demand in China.



On copper production:

"Mined copper production [at Kennecott] was 19% higher than the third quarter of 2021, and 50% higher than the prior quarter with significant progress into higher grades following the transition to the south wall (averaging 0.54% in the first nine months), higher recoveries and strong mill performance driving higher ore milled.

"Refined copper production guidance has been reduced to 190,000 to 220,000 tons (previously 230,000 to 290,000 tons), given further downside risk associated with Kennecott's smelter and refinery performance, until we undertake the largest rebuild in nine years which is planned for the second quarter of 2023.

"Mined copper production [at Escondida] was 10% higher than the third quarter of 2021 mainly due to expected higher concentrator feed grade and higher recoverable copper in ore stacked for leaching mainly due to higher material stacked in both oxide and sulphide leach."



On the copper market:

"The copper LME price dropped 7% over the third quarter to $3.47/pound. A strong U.S. dollar, tightening monetary policy and challenging economic outlook weighed on market sentiment. Nevertheless, prices have been partly supported by supply concerns and low exchange inventories, which currently remain at multi-year lows."



Write to Rhiannon Hoyle at [e-mail]



(END) Dow Jones Newswires

October 17, 2022 19:19 ET (23:19 GMT)

[philanderer] 18/10/2022 00:20

'Rio Tinto tempers annual iron ore shipments outlook as demand weakens'

[tuftymatt] 15/10/2022 08:15

Yeah troubles ahead in the wider market / global economy but I think before that kicks in hard this will re test 5000 on a rally.

[philanderer] 14/10/2022 19:16

Exactly eurofox.

RIO -6.1% for the week.

[eurofox] 14/10/2022 16:08

for good reason - demand destruction and stagflation not long over the horizon