Aussie miners drop most in four weeks on China COVID worries

29Metals

17/01/2023 02:13

** Australian Mining stocks  .AXMM  fall as much as 1.7%,
their biggest intraday percentage loss since Dec 20 
    ** Local mining index dipped after Iron ore futures fell on
Monday, as reports of an increase in COVID-19 deaths in top
steel producer China renewed concerns over demand  IRONORE/ 
    ** The mining giants - Rio Tinto  RIO.AX , BHP Group
 BHP.AX  and Fortescue Metals Group  FMG.AX  lost between 1% and
1.8%    
    ** 29Metals  29M.AX  slumped 5.1% to be the biggest loser on
the index
    ** Index hits lowest since Jan 12 
    ** AXMM rose 7.4% in 2022
 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))