Aussie miners hit near one-week high on iron ore strength

Vulcan Energy Resources

28/06/2023 03:59

** Australia's mining sub-index  .AXMM  rises 1.1% to its
highest level since June 22
    ** Iron ore futures climbed overnight, as the prospects of
further economic stimulus from China and active post-holiday
restocking in some mills boosted trader sentiment  IRONORE/ 
    ** Iron ore behemoths BHP  BHP.AX  and Rio Tinto  RIO.AX 
climb 1.4% and 0.8%, respectively
    ** Heavyweight Fortescue Metals Group  FMG.AX  up 0.7%
    ** Miner Vulcan Energy Resources  VUL.AX  jumps 10.9%,
eyeing its best day since Oct. 24, if current gains hold
    ** VUL is the biggest gainer on the sub-index 
    ** AXMM up 1.9% YTD as of last close 
    


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