Australian miners rise as copper prices climb on upbeat US data

Fortescue

31/07/2026 02:00

** Australia's mining sub-index .AXMM rises as much as 3.3%, its highest level since July 23
** Copper rose to a one-week high on Thursday as data showing robust business spending in the U.S. extended a rally supported by a softer dollar and tight inventories elsewhere MET/L
** Shares of mining majors Rio Tinto RIO.AX up 2.1% while BHP BHP.AX advances 2.6%
** Peer Fortescue FMG.AX inches 0.5% lower with the miner shipping 52.7 Mt of iron ore, down 5% from a year earlier but above a Visible Alpha consensus estimate of 52.48 Mt
** Sub-index has risen 9.7% this year, including session moves

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com;))