RIO Sees 1% Dip in Iron Ore Output in 2024: How to Play the Stock?
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Rio Tinto (RIO) reported a 1% year-over-year decline in iron ore shipments for Q4 2024, totaling 86.5 million tons. The annual total reached 328 million tons, also down 1% but within the company's guidance range.
January 16, 2025 | 8:00 pm
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Rio Tinto's iron ore shipments declined by 1% in Q4 2024, totaling 86.5 million tons. The annual total of 328 million tons is within the company's guidance but reflects a 1% decrease year over year.
The 1% decline in iron ore shipments could negatively impact RIO's stock price in the short term as it indicates a slight decrease in production output. However, the shipments are within the company's guidance, which may mitigate some negative sentiment.
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