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BUZZ-Australian mining stocks eye worst day in over 6 weeks on US tariffs on China

ReutersFeb 3, 2025 12:04 AM

Australian mining stocks index .AXMM fall 2.2% heading for their biggest fall since Dec. 19, if losses hold

Subindex hits lowest level since Jan. 13

Over the weekend, U.S. President Donald Trump imposed tariffs on China, Australia's top trading partner and a major consumer of iron ore used for manufacturing steel

Trump's tariffs are likely to weigh on the growth for Australian mining companies due to their exposure to China

Shares of BHP Group BHP.AX and Rio Tinto RIO.AX fall over 2% each

Rio shares hit lowest level since Jan. 7

AXMM up 3.6% this year as of last close, vs a more than 4% increase in the benchmark index ASX 200 .AXJO

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