Rio Tinto(RIO) - 2023 Q4 - Earnings Call Presentation

• Tightness has emerged in the physical copper concentrate markets, following mine disruptions • Reported refined inventories remain at multi-year lows, leaving little buffer for future market deficits CP Slag ($/t) FY average 3 • TiO2 feedstock prices eroded in the second half of the year after slightly increasing in the first half • Demand for TiO2 products was impacted by a weakening macro environment in 2023, resulting in sales volume declines for pigment producers in North America and Europe • The glob ...