Is Rio Tinto A Buy On The Surging Iron Ore Price?

Iron ore — the chief product of mega-miner Rio Tinto (LSE: RIO) — recently saw its price pop very nearly 20% in just one day. Does this point to a tightening market and does that make Rio Tinto a Buy?

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Owain Bennallack owns shares in Rio Tinto. The Motley Fool UK has recommended shares in Rio Tinto. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.