Rio Tinto is trading 4.07% down now at $99.52 after China Mineral Resources Group directed domestic steel mills to pause purchasing talks for Rio Tinto’s Pilbara Blend while price negotiations remain unresolved.
- The dispute threatens near-term iron-ore earnings expectations.
- Iron ore is trading below $100 per tonne amid declining Chinese steel output.
- Broader mining shares and global markets are weaker as geopolitical tensions and oil above $100 increase risk-off pressure.