You are here

Rio Tinto to slow pace of iron ore expansion amid glut

China's weakest growth since 1990 and the transition away from metals-intensive sectors to consumer-led expansion means the outlook for commodity prices remains muted, Rio's Mr Walsh said.


RIO Tinto Group, the world's second-largest iron ore exporter, will trim the pace of its supply expansion as prices slump amid a market glut.

Production of the raw material used to make steel will increase about 7 per cent this year to 350 million tonnes, less than an 11...