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UBS upgrades Rio, FMG on stronger iron ore outlook

Key risks for both companies remain

Kristie Batten
UBS upgrades Rio, FMG on stronger iron ore outlook

The bank lifted its 2022 forecast by 23% t US$135 per tonne and its 2023 forecast by 24% to $105/t. It still expects iron ore to drop below $100/t in the second half of next year. "While Russia/Ukraine...

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