Rio’s Chinese warning

SHARES in Rio Tinto fell after it warned about the slowing Chinese economy.

China is one of the mining giant’s biggest customers, but its economy has cooled this year amid increased government regulation and a slowdown in property development which in turn has hit copper and steel prices.

Rio Tinto said: ‘There are some clear headwinds from recent regulatory tightening and the transition may lead to some near-term volatility.’

Rio also put out a disappointing trading update, downgrading its iron ore output guidance due to labour shortages in Australia. Shares slid 1.4pc.