Australian miners drop to over 1-month low on weak metals, China demand woes

Fortescue

11/06/2026 05:16

** Australian mining stocks  .AXMM  fall as much as 2.8% to
their lowest since May 5 
    ** Sub-index on course for its fifth-straight session of
losses, if current trend holds 
    ** Iron ore futures decline as shipments continue to mount
amid weak steel demand in China  IRONORE/ 
    ** Copper prices also fall as an escalation in the Middle
East conflict pushes oil prices higher and raises concerns about
global economic growth  MET/L 
    ** ASX-listed shares of Alcoa Corp  AAI.AX  and Ora Banda
Mining  OBM.AX  lead losses, down 8.2% and 7.3%, respectively
    ** Index-heavyweights Rio Tinto  RIO.AX , Fortescue  FMG.AX 
and BHP  BHP.AX  lost between 1%-2% each
    ** AXMM up 11.5%, including the day's move

 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.nair@thomsonreuters.com))