Australian mining stocks tumble to six-month low as iron ore prices slide

29Metals

25/05/2023 06:06

(Adds updates share moves and milestones)
    ** The Australian mining sub-index  .AXMM  falls as much as
2.1%, hitting its lowest level since Nov. 28, 2022
    ** Dalian iron ore hit a 3-week low on expectation China's
demand for the steelmaking ingredient will remain sluggish
during the typical summer lull in domestic construction
activity IRONORE/ 
    ** BHP Group Ltd  BHP.AX , world's biggest listed miner, 
declines as much as 1.9% to A$42.0 - lowest since Nov. 11, 2022
    ** Rio Tinto  RIO.AX  falls 1.9% to hit a six-month low
    ** Fortescue Metals Group  FMG.AX  skids 3.4% to hit its
lowest since Nov. 29, 2022
    ** 29Metals  29M.AX  down 20% - top loser on sub-index
    ** AXMM posts biggest intraday pct drop since April 24
    ** AXMM down 1.1% YTD, as of last close 

 (Reporting by Riya Sharma and Harish Sridharan in Bengaluru)
 ((Riya.Sharma@thomsonreuters.com;))