Aussie miners track third straight session of losses on softer iron ore prices

Hastings Technology Metals

07/07/2023 01:34

** Australia's mining sub-index  .AXMM  dips as much as
2.5%, tracks third straight sessions of losses, if current trend
holds 
    ** Iron ore futures struggled for firm direction overnight,
as worries about steel production curbs in China offset optimism
from additional stimulus expectations 
    ** Iron ore behemoths BHP  BHP.AX  and Rio Tinto  RIO.AX 
slip 1.8% and 1.3%, respectively
    ** Heavyweight Fortescue Metals Group  FMG.AX  fell 0.9%
    ** Rare earths co Hastings Technology Metals  HAS.AX  leads
losses on the sub-index, falling 5% as of 0030 GMT 
    ** AXMM has lost 2.8% so far for the week, compared to a
0.9% gain a week before
    ** Sub-index has risen 1.1% this year as of last close
 

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))