Rio Tinto Share Price Today, 21 November 2025: LSE:RIO Slips Toward 5,280p as Alumina Cuts and Green‑Steel Pivot Weigh on FTSE 100 Miner

Meta description: Rio Tinto (LSE: RIO) share price today, 21 November 2025 – live price around 5,280p, key news on alumina output cuts, green‑steel strategy changes, copper growth and a weak FTSE 100 backdrop.

Rio Tinto share price today (LSE: RIO) – 21 November 2025

Rio Tinto plc (LON: RIO), one of the FTSE 100’s heavyweight mining stocks, is trading lower on Friday 21 November 2025.

According to live London Stock Exchange data aggregated by Investing.com, Rio Tinto shares are changing hands at about 5,282p, down roughly 1.0% on the day compared with Thursday’s close of 5,337p. ^[1]

Key intraday stats for Rio Tinto plc (LSE: RIO) today:

Live price: ~5,282p
Day change: about ‑55p (‑1.0%) vs previous close at 5,337p ^[2]
Intraday range so far: roughly 5,182p – 5,285p ^[3]
Volume so far: ~0.8m shares, below a 3‑month average around 2.6m, indicating relatively subdued trading for such a large blue chip ^[4]
52‑week range:4,025p – 5,565p; Financial Times data show the stock briefly hit a new intraday 52‑week high near 5,662p on 20 November. ^[5]

On current numbers, Rio Tinto still trades close to the top of its 12‑month range despite today’s pull‑back.

From a fundamentals angle, the miner’s valuation remains anchored by hefty cash flows:

Market cap: about £85.5bn
Trailing P/E ratio: ~10.9x
Dividend: about 284.6p per share, implying a yield of roughly 5.3% at today’s price ^[6]

Consensus data collated by Investing.com put the average analyst price target around 5,707p, suggesting ~8% potential upside from today’s level, although opinions are far from unanimous. ^[7]

Why Rio Tinto shares are weaker today

1. FTSE 100 under pressure at a one‑month low

The share price move is happening against a broadly risk‑off day for UK equities.

London’s FTSE 100 index fell to a one‑month low in early trade, dragged lower by a global tech and AI sell‑off, weak UK macro data and renewed worries about consumer spending. TechStock²+2The Guardian+2

By mid‑morning:

The FTSE 100 was down around 0.4% near 9,490, having briefly dropped about 1% at the open.
The FTSE 250 and AIM All‑Share were also in the red, reflecting softer risk appetite across UK stocks. TechStock²

Sector‑wise, miners and energy names are among the main drags as investors rotate out of cyclicals amidst worries over global growth, AI‑related volatility and higher‑for‑longer interest rates. TechStock²+1

A morning market note from SP Angel, circulated to clients and shared via Share Talk, shows a cluster of major miners—including Rio Tinto, BHP and Glencore—down around 3% overnight in global trading, underscoring how sentiment toward the sector has soured this week. ^[8]

2. Short‑term jitters over alumina output cuts at Yarwun

Although the latest Yarwun alumina refinery decision was announced earlier in the week, it remains a key talking point for Rio Tinto on 21 November.

On 18 November, the company said it would cut production at its Yarwun alumina refinery in Queensland by about 40% from October 2026, aiming to extend the plant’s life to 2035 rather than spend heavily on a new waste facility. ^[9]

Around 180 of 725 roles may be affected, according to follow‑up coverage on MINING.com. ^[10]
Bauxite mines and aluminium smelters tied into the supply chain are expected to continue operating at full capacity. ^[11]

For investors, the trade‑off is clear:

Negative: Lower alumina output can trim near‑term earnings.
Positive: Curtailment defers large capital spending and buys time to develop new tailings and residue storage options.

Several market commentators today describe this as earnings‑dilutive in the short run but potentially value‑preserving over the long term, which helps explain part of the negative share price reaction.

3. Green‑steel pivot: from BioIron to a Calix pilot plant

Rio Tinto’s green‑steel strategy is also in focus.

On 17 November, the group announced a joint development agreement with Australian technology firm Calix to build a low‑emissions iron and steel demonstration plant in Western Australia, using Calix’s Zero Emissions Steel Technology (“Zesty”) kiln. ^[12]

At the same time, Rio Tinto confirmed it is winding down its dedicated BioIron research centre and scrapping the BioIron‑branded product, effectively pivoting its decarbonisation efforts toward a pathway seen as more scalable for Pilbara iron ore. ^[13]

Media and analyst commentary over the past few days—echoed again in coverage today—frames this as:

A costly course correction after years of BioIron development; and
A sign that Rio wants to back hydrogen‑ready, industrial‑scale technologies that can be commercialised with steelmakers. TechStock²+1

The shift adds to investor uncertainty over the timing and cost of Rio’s decarbonisation plans, even if it may ultimately support long‑term demand for high‑grade Pilbara ore.

Rio Tinto news flow investors are watching on 21 November 2025

A number of Rio‑linked stories and macro themes are circulating on Google News and financial wires today. Below are the key items that help explain the current trading mood.

1. ASX counterpart under pressure on the same themes

An in‑depth piece from TechStock² (TS2) covering the Rio Tinto Limited (ASX: RIO) listing notes that the Australian shares are trading around A$128–129, down roughly 3% today. The article links the weakness to: TechStock²+1

The Yarwun alumina output cuts
The green‑steel pivot away from BioIron and toward the Calix pilot; and
A choppy outlook for iron ore and other bulk commodities

Although this is the Australian line, London and Sydney Rio Tinto shares ultimately reflect the same underlying business, so cross‑market sentiment spills across both listings.

2. Copper demand “set to soar” – Rio Tinto highlighted as a beneficiary

TS2 also points to a new article from Australian Resources & Investment, published on 21 November, arguing that global copper demand is set to surge amid a looming supply crunch as electrification, renewables and grid upgrades accelerate. TechStock²+1

In that piece, Rio Tinto is cited under the sub‑heading “unlocking a sleeping giant”, reflecting:

The ramp‑up at Oyu Tolgoi in Mongolia
Ongoing investments at Kennecott in the US
A broader strategy to raise copper’s share of group earnings over the rest of the decade ^[14]

This bullish copper narrative is one reason many analysts still see Rio Tinto as a core long‑term holding despite near‑term iron ore and alumina headwinds.

3. Simandou iron ore goes live – long‑term upside, short‑term supply questions

On the iron ore side, a report from China’s SunSirs today highlights that the Simandou iron ore project in Guinea has begun operations, describing it as a “Chinese moment” in iron ore, with China Baowu, Chinalco and Rio Tinto among the key partners. ^[15]

Simandou is one of the world’s largest untapped high‑grade iron ore deposits. BusinessWire and Rio Tinto’s own updates have repeatedly flagged that first shipments were targeted for around November 2025, and this milestone appears to be materialising. ^[16]

For Rio Tinto shareholders, Simandou is a double‑edged sword:

It supports long‑term volume growth in high‑grade ore that is attractive for low‑emissions steelmaking.
But it also adds to future global supply, which could cap prices if Chinese steel demand remains sluggish.

Today’s price action reflects this mixed backdrop: investors welcome Simandou’s strategic value, yet worry about what abundant future supply might do to iron ore prices over time.

4. Option markets and derivatives activity

Options data for Rio Tinto’s NYSE‑listed ADRs show noticeable open interest around 21 November 2025 expiry strikes, particularly near US$60–75. ^[17]

While this is focused on the US line, elevated options positioning can:

Add short‑term volatility around key expiry dates; and
Signal where traders are hedging or speculating on large moves in the underlying stock.

It’s another reason short‑term swings in Rio Tinto’s share price can be sharper than the steady long‑term fundamental story might suggest.

Analyst and broker sentiment: divided views on Rio Tinto

The day’s news flow also includes fresh commentary from brokers and market strategists.

On Australian TV segment “The Bull”, Jed Richards of Shaw and Partners reiterated a sell rating on Rio Tinto (ASX: RIO), warning investors about over‑concentration in iron ore miners if Chinese steel demand disappoints. TechStock²+1
At the same time, TS2 notes that consensus among roughly 15 analysts remains closer to “moderate buy”, with Macquarie sitting around neutral, showing a genuine split between cautious and more optimistic views. TechStock²+1

The result is a tug‑of‑war in sentiment:

Bears focus on cyclical risk (iron ore, China, alumina cuts, potential smelter issues like Tomago’s uncertain future). ^[18]
Bulls highlight attractive valuation and yield, plus copper growth, Simandou and decarbonisation deals such as the TerraGen wind power agreement for Kennecott. ^[19]

Macro and commodity backdrop: iron ore volatility and AI‑driven risk‑off mood

Iron ore and bulk commodities

Recent coverage from Australian Resources & Investment and other market trackers emphasises that iron ore prices have been volatile in November:

Chinese demand has been softer than hoped, with infrastructure and property still under pressure. ^[20]
A stand‑off between China’s state iron ore buyer and BHP has temporarily tightened supply in some cargoes, helping support prices despite weaker demand. ^[21]

For Rio Tinto, the combination of soft demand but intermittent supply tensions contributes to the day‑to‑day share price swings we’re seeing today.

UK macro data and AI shock weigh on FTSE heavyweights

The weak tone in London is also being reinforced by:

A 1.1% fall in UK retail sales for October, worse than expectations, suggesting consumers are pulling back ahead of the Budget and Christmas. TechStock²+1
Higher‑than‑expected public borrowing, which tightens the Chancellor’s room to offer major tax giveaways. TechStock²
A modest rise in Ofgem’s energy price cap from January, keeping pressure on household budgets. TechStock²

Layered on top is a sharp reversal in global AI‑linked stocks, led by Nvidia’s whipsaw price action, which has rattled broader risk sentiment and knocked cyclicals, including miners, lower. TechStock²+1

All of this matters for Rio Tinto because it is not just a pure commodities play; it is also a large component of major equity indices. When macro and AI‑driven risk‑off waves hit, big index names like RIO tend to move with them.

How Rio Tinto looks on valuation and fundamentals today

Even after today’s decline, Rio Tinto’s valuation remains anchored in a mix of strong profitability and cyclical risk:

2024 underlying EBITDA was about US$23.3bn, according to BusinessWire’s summary of the latest results, with iron ore still the dominant earnings driver. ^[22]
The company reports record bauxite output, strong Pilbara iron ore volumes (despite cyclone disruptions) and a 54% year‑on‑year copper production increase at Oyu Tolgoi in H1 2025 as the underground ramp‑up continues. ^[23]
Management continues to emphasise progress toward cutting Scope 1 and 2 emissions by 50% by 2030 and achieving net‑zero by 2050, with sizeable capital and operating spend directed to decarbonisation. ^[24]

On the numbers available today:

A P/E near 11x and a dividend yield above 5% place Rio Tinto in “value‑oriented cyclical” territory rather than high‑growth. ^[25]
The shares are up around 8–9% over the past 12 months, even after this week’s pull‑back. ^[26]

For income‑oriented investors, the key questions are whether iron ore and alumina earnings can support the dividend, and how quickly copper and other “future‑facing” metals can grow into a larger share of the profit mix.

Key takeaways for Rio Tinto (LSE: RIO) on 21 November 2025

For readers following Google News and Discover for Rio Tinto updates today, the main storylines are:

Live share price:
- Around 5,282p, down about 1% on the day, as miners and other cyclicals drag the FTSE 100 towards a one‑month low. ^[27]
Short‑term headwinds:
- Yarwun alumina production cuts, which trim future output but extend the refinery’s life. ^[28]
- A strategic pivot in green steel from BioIron to a Calix pilot plant, raising questions about execution risk and capital allocation. ^[29]
- Macro pressure from weaker UK data, AI‑linked equity volatility and concerns over Chinese demand. TechStock²+2The Guardian+2
Medium‑to‑long‑term supports:
- Growing exposure to copper, with analysts highlighting Rio as a key beneficiary of an expected structural supply deficit. TechStock²+1
- The ramp‑up of Simandou and continued strength in high‑grade iron ore, which can command premiums in a decarbonising steel industry. ^[30]
- Ongoing renewable power deals, such as the TerraGen VPPA for Kennecott, which help lower the group’s carbon footprint and energy costs. ^[31]
Sentiment split:
- Some brokers—like Shaw and Partners—advise caution or maintain sell ratings, pointing to iron‑ore‑heavy portfolios and macro risks. TechStock²+1
- Others see a reasonably priced dividend payer with improving copper exposure and a still‑supportive long‑term demand picture for its key metals. ^[32]

For now, Rio Tinto’s share price today reflects a classic cyclical balancing act: near‑term concerns over alumina and the global growth outlook versus the long‑term promise of copper, high‑grade iron ore and low‑carbon production.

This article is for information only and does not constitute financial advice. Always do your own research or consult a regulated adviser before making investment decisions.

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