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Rio Tinto’s Q1 Australian Iron Ore Shipments Slid 15% From Q4

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Rio Tinto (NYSE:RIO) reported Q1 Pilbara iron ore shipments fell 8% from a year ago and 15% compared to Q4 2021, totaling 71.5M metric tons, below consensus estimates for 73.1M tons, citing challenges in advancing new developments.

In its Q1 operations review, Rio (RIO) said the delayed ramp up of its Gudai-Darri project in Western Australia and continuing commissioning challenges at the Mesa A wet plant slowed plans to increase iron ore production at Robe Valley.

As the company starts to ramp up Gudai-Darri, “our iron ore business will have greater production capacity and be better placed to produce additional tons of Pilbara Blend in the second half,” CEO Jakob Stausholm said.

Q1 Pilbara iron ore production fell 6.2% Y/Y to 71.7M tons.

Rio Tinto (RIO) should continue to generate substantial cash flow from its asset portfolio as prices remain strong through 2022, The Value Portfolio writes in a bullish analysis posted recently on Seeking Alpha.

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Source: seekingalpha.com

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Maersk, MSC to End Global Alliance in Container Shipping Shakeup

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The world’s two biggest shipping lines – A.P. M?ller-Maersk (OTCPK:AMKBY) (OTCPK:AMKAF) and Mediterranean Shipping Co. – said Wednesday they will end their 2M vessel sharing partnership in 2025, a move S&P Global Platts said will shake up the container shipping market and .

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Article: seekingalpha.com

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U.S. Natural Gas Slides Below $3 for First Time in 19 Months

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U.S. natural gas futures fell below $3 for the first time since May 2021, trading as low as $2.992/MMBtu Wednesday before the front-month February contract (NG1:COM) settled at a new 52-week low, -5.8% to $3.067/MMBtu.

Since fears that suppliers couldn’t meet wintertime demand pushed U.S. natgas prices to a 14-year high of ~$10/MMBtu in August, U.S. and Europe have refilled their buffer inventories ahead of winter, and relatively warm temperatures in the Northern Hemisphere so far have held down demand for heating.

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Source Here: seekingalpha.com

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Sens. Warren, Welch Urge Moderna to Reconsider COVID-19 Shot Price Increase

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Democratic Sens. Elizabeth Warren (Mass.) and Peter Welch (Vt.) are asking Moderna (NASDAQ:MRNA) CEO Stephane Bancel to reconsider a price hike for COVID-19 vaccines once they become available through the commercial market.

Moderna (MRNA), like rival Pfizer (), has said it plans to hike the price of its COVID shot to between $110 and $130 per dose, far higher than what the federal government has been paying for them.

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Original Article: seekingalpha.com

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