Australian miners surge to record high on firm ironore, copper prices

Shares of Australian miners .AXMM rise as much as 2% to hit a record high

Sub-index tracks global ironore prices higher which rose on strong demand IRONORE/

Copper prices also surged to their record high following a strike at a Chilean mine, others MET/L

Australia's largest steelmaker, BlueScope Steel BSL.AX rises as much as 21.8%, its highest level since October 3, 2008, after receiving $8.8 billion buyout bid from SGH SGH.AX and Steel Dynamics STLD.O

BSL top gainer on the sub-index

Among sector giants, Rio Tinto RIO.AX gains 1.3% while BHP Group BHP.AX rises 1%

AXMM gained nearly 40% in 2025, its best year since 2016