Australian mining stocks hit 5-week high on strong iron ore prices

5E Advanced Materials

12/04/2023 02:27

** Australian mining stocks  .AXMM  rise as much as 1.8% to
hit their highest since March 7, 2023
    ** AXMM up for a second consecutive session 
    ** Iron ore prices rose on Tuesday on supply concerns as a
tropical storm heads towards Port Hedland in top supplier
Australia  IRONORE/  
    ** Sector heavyweights BHP Group  BHP.AX  and Rio Tinto
 RIO.AX  climb 2.5% and 2.8%, respectively 
    ** Fortescue Metals Group  FMG.AX  rises 2.4% to hit its
highest since March 6  
    ** 5E Advanced Materials Inc  5EA.AX  advances as much as
10.1% to become the top gainer on the index
    ** AXMM had risen 4.7% this year, as of last close

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))