ASX Preview: Australian Shares Set to Fall; Rio Tinto Group Posts Higher Iron Ore Production in Q2

MT Newswires Live

2025/07/16

Australian shares are poised to fall on Wednesday as US inflation data came in lower than expected in June, dimming hopes for a Federal Reserve cut in September.

Overnight, the Dow Jones Industrial Average fell 1% and the S&P 500 was down 0.4%, while the Nasdaq Composite rose 0.2%.

In corporate news, Rio Tinto Group (ASX:RIO) reported 83.7 million tonnes of iron ore production at its Pilbara project in Western Australia in the second quarter, up 5% from the previous year.

Amplitude Energy (ASX:AEL) produced 7 petajoules equivalent (PJe) in the fiscal fourth quarter ended June, compared with 5.81 PJe in the year-ago period and 6.11 PJe in the prior quarter.

Australia's benchmark index rose 0.7% or 59.9 points to close at 8,630.3 on Tuesday.

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