Summary
IT WAS very decent of the Chinese to mop up so many shares in Rio Tinto at the top of the market, even if minor shareholders in the miner had to be quick to realise the [pounds]60 the big sellers got. The deal rang the bell for the top of the commodities boom, just when the bulls were banging on about a "supercycle" in commodity prices thanks to insatiable demand from the emerging economies.
It looks rather different now, and Collins' first law of commodities has proved itself again: Today's shortage is tomorrow's glut. The realisation that we weren't going to run out of iron ore, copper or any of the other metals that Rio wrings from the ground was enough to bring the share price down to [pounds]20.See the full content of this document
Extract
Rio Tinto Falls Foul of My Law
But the long-running contested bid from ...
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