UBS forecasts stronger iron ore shipments for BHP and Rio Tinto in the September quarter, with BHP expected to ship 75 million tonnes and Rio Tinto 86 million tonnes. However, iron ore prices have fallen to about $91 a tonne, hitting more than 10-year lows due to weakening Chinese steel demand and lower imports. Fortescue and Vale are expected to report lower shipments, reflecting broader market challenges. The supply landscape is shifting with increased output from Simandou in Guinea and production cuts by some producers, while Glencore's coal volumes remain mixed. This highlights ongoing pressure on the iron ore market amid fluctuating global demand and supply changes.
Rio Tinto shares are trading at USD 95.42 with a slight 0.24% decline, while Vale is up 0.14% at USD 14.17 on Pluang. The market shows strong buying interest in Rio Tinto with 100% buy orders. These figures are as of Oct 06, 2026 22:21 WIB.
