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Sell Rio Tinto says UBS as iron ore “approaching inflection point”

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Rio Tinto PLC (LON:RIO) shares are now a ‘sell’ for UBS, as the investment bank sees iron ore as “approaching an inflection point”. Near-term risks for commodities are increasing, the Swiss bank said, with the US Federal Reserve turning more hawkish and China taking action to deflate commodities such as selling strategic base metal reserves.

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