Copper stocks extends losses in Australian miners

Hot Chili

24/01/2022 02:38

**Australia's metals and mining index  .AXMM  falls as much
as 2.6%, hitting second straight day of losses
    ** This comes as copper prices wilted as risk-off sentiment
swept financial markets and investors took the opportunity to
lock in profits after two days of rallying prices  MET/L  
    **Iron ore behemoths BHP Group  BHP.AX  and Rio Tinto
 RIO.AX  fell as much as nearly 2%
    ** Fortescue Metals Group  FMG.AX  slid 2.1% 
    ** Among other copper miners, Hot Chili  HCH.AX  and OZ
Minerals  OZL.AX  drop as much as 5.2% and 4.1%, respectively
    **  As of last close miners are up 6.24% this year, compared
with a 3.6% decline in the ASX200 index  .AXJO 

    

 (Reporting by Navya Mittal)
 ((Navya.Mittal@thomsonreuters.com;))