Metal miners tumble as China COVID lockdown fears mount

GT Resources

25/04/2022 16:24

(Updates)
    ** Shares of metal miners tumble as fears grow in top metals
consumer China that Beijing is on the verge of a Shanghai-style
lockdown  urn:newsml:reuters.com:*:nL3N2WN0MB
    ** Surveys of the manufacturing sector in China, the world's
second-largest economy, are expected to show activity contracted
in April  urn:newsml:reuters.com:*:nL2N2WN0KJ
    ** Investors are also pricing in large U.S. rate hike
increases this year 
    ** U.S.-listed shares of mining giants Rio Tinto  RIO.N  and
BHP Group  BHP.N  lose 4.1% and 5.2%, respectively
    ** Aluminum producers Alcoa  AA.N  and Century Aluminum
 CENX.O  decline ~6% each, as benchmark aluminum  CMAL3  on the
London Metal Exchange dropped to its lowest since Feb. 4
    ** Copper miners slump as benchmark copper  CMCU3  on the
LME hits its lowest since March 15, with Freeport-McMoran
 FCX.N , the world's No.1 publicly traded copper producer,
dipping 5.1%  urn:newsml:reuters.com:*:nL3N2WN1X6
    ** U.S. shares of iron and nickel player Vale  VALE.N 
decrease 5.6%
    ** Lithium producers Albemarle  ALB.N , Lithium Americas
 LAC.N  and Livent  LTHM.N  down between 3% and 4.6%
    ** Gold miners decline as bullion prices touch their lowest
in over four weeks, with top gold miner Newmont  NEM.N  down
3.1% urn:newsml:reuters.com:*:nL3N2WN1TF
    ** Palladium ETFs decline as prices of the autocatalyst
metal shed nearly 13%  urn:newsml:reuters.com:*:nL3N2WN307

 (Reporting by Ruhi Soni in Bengaluru)
 ((Ruhi.Soni@thomsonreuters.com;
Twitter: https://twitter.com/ruhithere;))