Australian miners track lower iron ore prices, drop to one-week low
05/06/2026 01:53
BUZZ-Australian miners track lower iron ore prices, drop to one-week low ** Australian miners .AXMM fall as much as 2.4%, their lowest level since May 29
** Sub-index down ~2% on the week, on track to mark its worst week in more than a month, if losses hold
** Iron ore prices declined on rising concerns about demand in China as steel margins shrink and steel consumption weakens amid high input costs IRONORE/
** Mining giants BHP Group BHP.AX and Rio Tinto RIO.AX down about 2.4% and 1.5%, respectively
** Up ~16% YTD, including the session's moves
(Reporting by Anjali Singh in Bengaluru)
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Australian miners fall on weakening iron ore prices