Australian mining stocks surge as metal prices hold on upbeat China data

BHP

01/05/2026 01:47

** Australian mining stocks .AXMM rise as much as 3.2%, making them among the top movers on the broader benchmark .AXJO

** Sub-index set to snap a three-session losing run, if trends hold

** Iron ore and copper prices remained steady on upbeat factory data from top consumer China, shrugging off concerns of the impact of the Middle East conflict IRONORE/ MET/L

** Sector majors BHP BHP.AX, Rio Tinto RIO.AX and Fortescue FMG.AX surge as much as 3.1%, 4.1% and 2.1%, respectively

** Rio Tinto books largest intraday pct jump since early April

** Miners set to fall 0.8% for the week in their third straight week in the red

** YTD, AXMM up 10.3%, including the day's moves, overshadowing flat moves in the AXJO

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))