Record Rio Tinto Profits Hide Copper Supply Chain Fragility

Rio Tinto posted record first-half profits of $6.85 billion, driven by an 84% surge in copper EBITDA.

The company's underlying earnings increased by 43% from the same period last year and marks its strongest first-half performance in four years.

Copper and aluminum contributed 56% of group profit, overtaking iron ore's historical dominance, and Rio Tinto's stock has risen 14.51% year-to-date, outperforming the Global X Copper Miners ETF by 7.92%.