LONDON, June 22, 2026, 10:04 BST
- Rio Tinto traded at 7,406p, up 12p or 0.16%, after an open at 7,463p. That means about 83% of the opening gap had already disappeared.
- Monday’s move clawed back just 6.2% of Friday’s 195p drop. Trading was heavy on Friday.
- The stock is still trading around 3.1% under its 50-day average. Investors are waiting on Rio’s next company update, scheduled for July 15.
Rio Tinto plc (LSE: RIO) inched up 12p, or 0.16%, to 7,406p on the London market at 10:04 BST on Monday, looking for footing after dropping 2.57% on Friday. Some help came from copper prices ticking up and other miners holding up in early trade. Still, the stock’s bounce looked unsteady as iron ore slipped 0.87%. Rio pulled back after an early move to 7,463p before mid-morning.
The tape tells more than the green numbers next to Rio Tinto (LSE: RIO). Shares started the session 69p higher at the open from Friday’s 7,394p close, but kept just 12p of that by the latest trade. So about 83% of that early lead disappeared as the FTSE 100 eased about 0.05%. Buyers stepped in but didn’t push the price.
Friday’s drop stood out from the usual end-of-week dip. Rio shed 195p as the FTSE 100 slipped 0.35%. Volume ran near 6 million shares, over double the 50-day average. Monday saw Rio gain 12p—just 6.2% of Friday’s drop. That’s some stabilisation, but no trend reversal yet.
Rio is trading between its 50-day and 200-day moving averages. FTSE Russell puts the 50-day at 7,640p and the 200-day at 6,349p. After Friday’s close, the relative strength index read 40.68. The stock finished at 7,406p, so Rio is 3.1% below the 50-day but still 16.6% over the 200-day average. Short-term momentum is down, but the main uptrend is intact.
Commodities sent a mixed message. Copper ended Monday up 0.12%, but the main iron-ore contract priced in yuan slipped 0.87%. The gap is important. Rio is relying more on copper, but iron ore from Pilbara still brings in most of the cash. For the first quarter, Rio’s iron-ore sales reached 75.7 million tonnes, a 2% rise from last year. Copper output hit 229,000 tonnes, up 9%.
Copper shipments out of Oyu Tolgoi are back to normal as of June 18 after protesters blocked exports June 16 and 17. Rio controls 66% of the mine, while Mongolia holds the other 34%. Output hit 345,000 tonnes in 2025, on the way to a planned 500,000 tonnes a year at full pace.
That growth is key for Rio as it tries to cut its iron ore reliance. Chief Executive Simon Trott said, “operating excellence drove 9% YoY copper equivalent production growth across our portfolio” for the first quarter. Rio left its 2026 outlook steady at 800,000–870,000 tonnes of copper and 323–338 million tonnes of Pilbara iron-ore sales. Rio Tinto
The financials are big. Rio posted 2025 underlying EBITDA at $25.4 billion, operating cash flow at $16.8 billion, underlying earnings of $10.9 billion, and paid a $6.5 billion ordinary dividend. Trott said the project pipeline is “anchored in copper,” giving some line of sight to growth over time. Traders on Monday pushed prices around without much conviction, showing they want actual delivery now instead of more strategic talk. Rio Tinto
The bear view is Monday’s bounce loses steam below Friday’s 7,394p close, with iron ore still sliding this month, now down about 8.3%. If shares fall below 7,394p, it wipes out the recovery attempt. The far-off 6,349p 200-day average shows how much room is left before the next big technical level. Any new problems or political flare-ups at Oyu Tolgoi could open up a second leg lower. To the upside, bulls need a break above 7,640p to challenge the bearish outlook and regain the 50-day trend.
The next check for Rio Tinto is its second-quarter operations review on July 15. Half-year numbers come July 29. Traders are watching if Pilbara shipments are making up cyclone losses, if copper stays within the 800,000–870,000-tonne range, and if Oyu Tolgoi’s ramp continues. The review will likely set the tone around the 7,400p zone—base or just a stop.
This article is for informational use only. It isn’t investment advice, a recommendation, or an offer to buy or sell any securities. Market prices move quickly. Investors need to research for themselves and weigh their own goals, finances, and risk tolerance before making any investment choices.
