Australian miners drop to two-week low as iron ore prices sink

Sierra Rutile Holdings

31/08/2022 03:22

** The Australian miners and mining sub-index  .AXMM  slips
as much as 2.4%, its lowest since Aug 15 
    ** Chinese iron ore prices sink below $100 per tonne over
renewed worries on COVID-19 curbs and steel output restrictions
in top producer China  urn:newsml:reuters.com:*:nL1N3060CB
    ** Sector heavyweights such as Rio Tinto  RIO.AX , BHP Group
 BHP.AX  and Fortescue Metals  FMG.AX  lose between 1.5% and
2.8%
    ** Natural rutile maker Sierra Rutile  SRX.AX  emerges as
top loser in the sub-index, dropping as much as 6.9%, set for
its third day of losses
    ** The sub-index lost 0.4% this year, as of last close,
versus a 6% decline in the benchmark  .AXJO 

    

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))