0621 GMT - The continuing selloff in mining stocks suggests investors expect more falls in commodity prices ahead, according to Citi analyst Paul McTaggart. He says nearly two-thirds of the Australian mining stocks Citi covers are trading below discounted cash flow under both base-case commodity price forecasts and holding spot commodity prices for five years. "Value is now apparent," says McTaggart. "That said, if we are heading into a global metals recession, then commodity prices will fall further." Citi views steel and iron ore as relatively defensive, given that Chinese stimulus could provide some demand support. In Sydney, BHP is down 3.5% and Rio Tinto is 5.0% lower. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
April 09, 2025 02:21 ET (06:21 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。