London, Jan 26, 2026, 08:29 GMT — Regular session
Rio Tinto (RIO.L) shares climbed roughly 1% in early London trade Monday, hitting 6,639 pence. The stock opened at 6,604 and fluctuated between 6,604 and 6,645. (Investing)
The stock showed early strength despite iron ore — the key profit driver for major diversified miners — remaining weak. Iron ore futures fell in Asia, with the most-active May contract on China’s Dalian exchange down 0.51% to 788 yuan a tonne. Meanwhile, the benchmark February iron ore contract on the Singapore Exchange dropped 0.93% to $103.6 a tonne, as traders stayed cautious, Reuters reported. (Business Recorder)
Investor caution extends beyond commodities. European shares held steady on Monday, as jitters from last week’s tariff-driven swings lingered. Traders are bracing for the U.S. Federal Reserve’s policy announcement later this week. (Reuters)
Rio’s share movement carries weight as a major player in London’s blue-chip index and serves as a key indicator for China’s steel cycle sentiment, where even slight changes in iron ore prices ripple through the entire mining sector.
Copper has reemerged as a focus. The Financial Times notes miners are increasingly turning to leaching and microbe-based methods to boost production, driven by copper prices climbing past $13,000 a tonne. Rio’s Nuton venture is mentioned as one of the players advancing this technique. (Financial Times)
The stock has swung sharply this month. Rio surged 5.2% last Wednesday following a stronger-than-expected quarterly report on iron ore and copper output. Glencore (GLEN.L) picked up 3.7%, and Anglo American (AAL.L) climbed 4.9% amid a wider rally in miners, Reuters reported. (Reuters)
Iron ore remains the key driver for cash flow. A drop in restocking or tighter steel margins could hit dividend forecasts fast.
Deal risk looms over the commodity sector. Earlier this month, Rio revealed it was in early talks with Glencore about a potential merger, highlighting the Takeover Code deadline — the UK’s strict “put up or shut up” rule that compels a bidder to either make a firm offer or walk away. (Rio Tinto)
Investors are also eyeing cost transparency from new CEO Simon Trott. “The key … is delivery on … the cost-out program,” said Barrenjoey analyst Glyn Lawcock following Rio’s latest production report. Rio’s full-year results come out Feb. 19, while the Glencore bid deadline is Feb. 5 — both dates set to heavily influence the stock’s direction in February. (Reuters)
