The pictures fairly similar across the “Big 3” in the iron ore space with RIO Tinto (RIO), Fortescue (FMG) or BHP Group (BHP) all significantly lower from their July high, arguably the main reason why the ASX200 is not challenging fresh all-time highs this morning. However as is often the case the stocks may have already bottomed even if iron ore feels capable of another 8-10% downside, hence we like the sector at current levels, and into another dip if it does occur.
MM likes RIO around $95 for a solid bounce
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