News Headline Summary

Rio Tinto's (RIO AT) head of iron ore unit says iron ore price spike temporary, with the company set to stick to its plans to aggressively target cost reductions despite the improving market.

Update details:

- Currently, the China import iron-ore fines 62% Fe spot (CFR Tianjin port) trades at USD 144.90 per ton.
- Of note, Co. shares hit 10-month high in London.

Print 22:24, 02 Jan 2013 - Asian News - Source: Newswires