BUZZ-Australian miners hit 1-week low on soft iron ore prices

Reuters03-27

** Australian mining stocks slide as much as 0.9% to their lowest level since March 19

** Iron ore futures prices fell on Tuesday, amid mounting risk-off sentiment as fundamentals of iron ore remained unfavourable and as downstream steel consumption in China disappointed the market

** Shares of top miners BHP Group and Rio Tinto

fall as much as 1.2% and 2.2%, respectively

** BHP and Rio shares both hit their lowest levels since March 19

** AXMM down 11.5% this year, as of last close, vs a 2.5% rise in the benchmark stock index

(Reporting by John Biju in Bengaluru)

((John.Biju@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment