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BUZZ-Australian mining shares hit nearly 2-month low on weak iron ore prices

Reuters
2025/02/28
BUZZ-Australian mining shares hit nearly 2-month low on weak iron ore prices

** Australia's mining sub-index .AXMM down 2.9%, its lowest level since January 9

** Iron ore futures prices fell pressured by U.S. tariff concerns and mounting trade frictions against Chinese steel exports IRONORE/

** Sub-index down 4.6% so far this week, set to log its worst week since mid-December 2024

** Sector majors BHP Group BHP.AX, Rio Tinto RIO.AX and Fortescue FMG.AX down between 2.9% and 4.2%

** Sub-index up 3.3% this year as of last close

(Reporting by Sherin Sunny in Bengaluru)

((Sherin.Sunny@thomsonreuters.com;))

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