ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Rio Tinto warns of weaker commodity demand as iron ore slumps

Shipment outlook curbed amid China's soft construction activity

Rio Tinto sees "further downside risks to demand" for iron ore and other resources.   © Reuters

SYDNEY -- Demand for iron ore and other resources may weaken further, Anglo-Australian mining giant Rio Tinto warns, with iron ore shipments expected to come in toward the low end of its guidance for 2022.

Iron ore shipments from Pilbara operations declined 1% on the year to 82.9 million tonnes for the July-September quarter in results released Tuesday. Rio Tinto now expects full-year shipments to be "at the low end" of the range of 320 million to 335 million tonnes projected as of August.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more