Business
Here’s why the Rio Tinto (ASX:RIO) share price jumped 9% to a record high today
It certainly was a stunning day of trade for the Rio Tinto Limited (ASX: RIO) share price on Thursday.
The mining giant’s shares stormed as much as 9% higher to hit a record high of $126.18 before ending the day 8.5% higher at $125.66.
Also hitting new highs today were its rivals BHP Group Ltd (ASX: BHP) and Fortescue Metals Group Limited (ASX: FMG).
Why did the Rio Tinto share price rocket higher?
Investors were fighting to buy the company’s shares on Thursday after the iron ore price continued its ascent following positive news out of the US.
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