Key Highlights

  • BHP (ASX:BHP) fell 3.09% to A$57.18, the largest decline among the three, while Fortescue (ASX:FMG) fell 1.58% to A$15.245.
  • Rio Tinto's Q3 2026 release of 14 October 2026 reported Q3 global iron ore sales of 90.8 Mt, up 3%, with guidance unchanged.
  • Fortescue's Q1 FY27 report stated shipments of 46.8 Mt against sales of 42.9 Mt, citing ongoing CMRG negotiations.

Company

Ticker

Price (A$)

% Change

BHP Group Ltd

BHP

A$57.18

-3.09%

Rio Tinto Ltd

RIO

A$148.475

-2.98%

Fortescue Ltd

FMG

A$15.245

-1.58%

Three of the largest names on the ASX moved lower together on 6 November 2026, and each sits at a different point in the iron ore cycle. BHP and Rio Tinto are diversified miners with significant copper exposure, while Fortescue is a pure Pilbara iron ore producer. This article sets each stock's session price against its most recent company release, so readers can see the operating picture behind the numbers. The session was a broad sell-off across ASX resources. The S&P/ASX 300 Metal & Mining index (XMM) fell 2.92% to 7,699.50, the S&P/ASX 200 Materials Index (XMJ) fell 2.51% to 22,604.40, and the S&P/ASX 200 (XJO) was down 0.49% at 9,020.80. Overnight, the S&P 500 fell 4.36%, the Nasdaq 5.52% and the Nikkei 225 5.80% at the 5 November close, and the session data links the local move to that international weakness. Gold was quoted at US$4,076.20 (down 0.91%), silver at US$51.98 (down 0.67%) and copper at US$13,777.00 (down 0.18%). 

BHP Group Ltd (ASX:BHP)

BHP traded at A$57.18 during the session, down 3.09%. Its operational review for the quarter ended 30 September 2026, released on 20 October 2026, reported lower copper production because of planned grade declines, maintenance, severe weather in Chile, safety stops and a conveyor failure at Carrapateena. Full-year guidance was unchanged. WAIO set records at both the mine and the port, and copper prices were reported as around 50% higher than a year earlier. Jansen Stage 1 was 87% complete, with first production targeted for mid-2027. The review also reported the deaths of two colleagues at Escondida and Peak Downs.

Rio Tinto Ltd (ASX:RIO)

Rio Tinto was quoted at A$148.475, down 2.98%. Its third-quarter production release, dated 14 October 2026, reported copper production of 205 kt in the quarter, flat year on year, and 646 kt for nine months, up 1%. Global iron ore sales were 90.8 Mt, up 3%, and Simandou reached an annualised run-rate of about 10 Mtpa. Lithium carbonate equivalent output rose 33% year to date. Guidance was unchanged, and more than US$2 billion of Capital release had been achieved year to date under a US$5 to 10 billion program.

Fortescue Ltd (ASX:FMG)

Fortescue traded at A$15.245, down 1.58%, the smallest fall among the three. Its Q1 FY27 report for the quarter ended 30 September 2026 showed 46.8 Mt of shipments and 42.9 Mt of sales, with the gap attributed to CMRG negotiations. Hematite C1 cost was US$21.98 per wet tonne, and realised hematite pricing was US$80 per dry tonne. Cash was US$3.2 billion and net Debt US$2.8 billion. The attached document does not show a release date, so the date is not stated here. Guidance remained unchanged, subject to the CMRG outcome.

Sector Context

The three stocks share exposure to iron ore and to the wider metals sector, which fell 2.92% on the day. BHP's release pointed to copper as the stronger part of its portfolio, while Fortescue's remains tied to iron ore pricing and the CMRG outcome. Rio Tinto's release highlighted a rise in iron ore output from Simandou, which is a new source of Supply for the sector.