A gauge of Australian mining shares is honing in on an all-time high amid bets that China’s reopening will boost demand for commodities.
(Bloomberg) — A gauge of Australian mining shares is honing in on an all-time high amid bets that China’s reopening will boost demand for commodities.
The S&P/ASX 200 Materials Index jumped as much as 1.6% on Thursday and is less than 2% away from its April record. Miners have benefited from gains in materials like copper and iron ore, which have been rallying on Chinese property stimulus and the country’s shift away from Covid Zero measures.
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