Aussie miners hit near 3-week high on strong iron ore prices

Lake Resources NL

30/03/2023 04:02

** Australian mining stocks  .AXMM  climb as much as 1.8%,
hitting their highest since March 10
    ** Iron ore futures extended their overnight gains,
underpinned by prospects of tighter supply of the steelmaking
ingredient and optimism over steel demand in China  IRONORE/ 
    ** Index heavyweights Rio Tinto  RIO.AX , BHP Group  BHP.AX 
and Fortescue Metals Group  FMG.AX  rise between 2.4% and 2.7%
    ** Miner Lake Resources NL  LKE.AX  gains up to 7.8% and is
the best performer on the mining sub-index
    ** AXMM up 1.5% YTD, as of last close 
    


 (Reporting by Riya Sharma in Bengaluru)
 ((Riya.Sharma@thomsonreuters.com;))