0015 GMT - Iron-ore prices should find support around US$100-US$110/ton from wet weather in Australia's Pilbara region, says UBS. Rainfall and flooding has already knocked out one of Rio Tinto's railcar dumpers at the East Intercourse Island port facility, which shipped 45 million tons of the company's iron ore in 2024. It's expected to take 3-4 weeks to repair. Analyst Lachlan Shaw notes the wet season in the Pilbara is far from over. Rio Tinto looks to be the most affected, with BHP and Fortescue faring slightly better, UBS says. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
January 27, 2025 19:15 ET (00:15 GMT)
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