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Rio Tinto Group (RIO.AX)

ASX - ASX Delayed price. Currency in AUD
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115.90-1.13 (-0.97%)
At close: 04:10PM AEST
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    ASX shares dip amid interest rate concerns, energy sector rallies

    On Tuesday, the Australian Securities Exchange (ASX) witnessed a decrease in its local shares by nearly half a percent, continuing an overall downward trend. This downturn coincided with the release of the Reserve Bank of Australia's (RBA) September minutes, which revealed that board members had chosen to maintain steady rates due to significant increases in interest rates over a short duration.

  • Bloomberg

    Rio Tinto CEO Says Chinese Steel Demand Is Close to Peaking

    (Bloomberg) -- Rio Tinto Group, the world’s second-largest iron ore producer, believes Chinese consumption of steel is close to topping out, with demand next year likely to be similar to 2023. Most Read from BloombergF-35 Debris Found After a $100 Million Fighter Jet Went MissingVegas’ Newest Resort Is a $3.7 Billion Palace, 23 Years in the MakingIndia, Canada Trade Diplomatic Blows Over Murder AllegationsVanderbilt Rips US News Over Slide in College RankingsChina’s appetite for iron ore, the ma


    Energy sector shines as Australian market dips amid rate concerns

    The Australian Securities Exchange (ASX) experienced a broad decline on Tuesday, with the energy sector being the only one to close higher. Local shares fell by almost half a percent as gains in energy were offset by losses across other sectors. The Reserve Bank of Australia's (RBA) September minutes, released on the same day, revealed that board members decided to hold rates steady at the September meeting due to significant increases in interest rates over a short period.