Aussie miners climb on strong iron ore prices

Bowen Coking Coal

07/06/2023 04:15

** The Australian mining sub-index  .AXMM  jumps as much as
1.1%
    ** Iron ore futures rose overnight to hit their highest
levels in about seven weeks as hopes grew for more stimulus
measures in top steel producer China  IRONORE/ 
    ** Index heavyweights Rio Tinto  RIO.AX  and BHP Group
 BHP.AX  jump as much as 1.1% and 1.4%, respectively 
    ** Heavyweight Fortescue Metals Group  FMG.AX  climbs 2.2%
    ** Metallurgical coal developer Bowen Coking Coal  BCB.AX 
climbs 8.8%, eyeing its best day since May 12, if gains hold
    ** Bowen Coking Coal is the biggest gainer on the sub-index
    ** AXMM up 0.2% YTD, as of last close
    


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