Value Emerging in Diversified Miners Despite Headwinds -- Market Talk

Dow Jones

2025/07/04

1858 ET - Value is starting to emerge in ASX-listed diversified miners, says UBS. Still, iron ore and copper prices are a near-term worry. UBS raises estimates for the iron ore price in 2025 and 2026 by 4% and 6% to US$97/ton and US$90/ton, respectively. But it expects the start up of the new Simandou iron-ore mine in Guinea to put pressure on prices, driving them some US$10/ton lower in 2026. "On copper, we are cautious near-term on potential U.S. S232 investigation of copper import tariffs to weigh on LME pricing in the short term," analyst Lachlan Shaw says. It prefers BHP to Rio Tinto, given the latter's exposure to Mongolia and Guinea and geopolitical risk in both of those countries. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

July 03, 2025 18:58 ET (22:58 GMT)

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Still, iron ore and copper prices are a near-term worry. UBS raises estimates for the iron ore price in 2025 and 2026 by 4% and 6% to US$97/ton and US$90/ton, respectively. But it expects the start up of the new Simandou iron-ore mine in Guinea to put pressure on prices, driving them some US$10/ton lower in 2026. \"On copper, we are cautious near-term on potential U.S. S232 investigation of copper import tariffs to weigh on LME pricing in the short term,\" analyst Lachlan <a href=\"https://laohu8.com/S/SJR\">Shaw</a> says. It prefers BHP to <a href=\"https://laohu8.com/S/RTNTF\">Rio Tinto</a>, given the latter's exposure to Mongolia and Guinea and geopolitical risk in both of those countries. 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Still, iron ore and copper prices are a near-term worry. UBS raises estimates for the iron ore price in 2025 and 2026 by 4% and 6% to US$97/ton and US$90/ton, respectively. But it expects the start up of the new Simandou iron-ore mine in Guinea to put pressure on prices, driving them some US$10/ton lower in 2026. \"On copper, we are cautious near-term on potential U.S. S232 investigation of copper import tariffs to weigh on LME pricing in the short term,\" analyst Lachlan <a href=\"https://laohu8.com/S/SJR\">Shaw</a> says. It prefers BHP to <a href=\"https://laohu8.com/S/RTNTF\">Rio Tinto</a>, given the latter's exposure to Mongolia and Guinea and geopolitical risk in both of those countries. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  July 03, 2025 18:58 ET (22:58 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7095","symbol_name":"多种金属与采矿","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2548319333","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2548319333","pubTimestamp":1751583480,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1858 ET - Value is starting to emerge in ASX-listed diversified miners, says UBS. Still, iron ore and copper prices are a near-term worry. UBS raises estimates for the iron ore price in 2025 and 2026 by 4% and 6% to US$97/ton and US$90/ton, respectively. But it expects the start up of the new Simandou iron-ore mine in Guinea to put pressure on prices, driving them some US$10/ton lower in 2026. \"On copper, we are cautious near-term on potential U.S. S232 investigation of copper import tariffs to weigh on LME pricing in the short term,\" analyst Lachlan Shaw says. It prefers BHP to Rio Tinto, given the latter's exposure to Mongolia and Guinea and geopolitical risk in both of those countries. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK7095":"多种金属与采矿","BHP.AU":"BHP GROUP LTD","BK7511":"ESG概念","LU0300736062.USD":"FRANKLIN NATURAL RESOURCES \"A\" (USD) ACC","RIO.AU":"力拓","RIO":"力拓","BK4588":"碎股","BHP":"必和必拓公司","BK4585":"ETF&股票定投概念","BK4168":"多种金属与采矿","BK7507":"资源股","LU0300736492.USD":"FRANKLIN NATURAL RESOURCES \"A\" (USD) INC"},"translate_title":"尽管面临阻力，多元化矿商仍出现价值——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BHP.AU":0.9,"RIO":0.9,"BHP":0.9,"RIO.AU":0.9},"content_text":"1858 ET - Value is starting to emerge in ASX-listed diversified miners, says UBS. Still, iron ore and copper prices are a near-term worry. UBS raises estimates for the iron ore price in 2025 and 2026 by 4% and 6% to US$97/ton and US$90/ton, respectively. But it expects the start up of the new Simandou iron-ore mine in Guinea to put pressure on prices, driving them some US$10/ton lower in 2026. \"On copper, we are cautious near-term on potential U.S. S232 investigation of copper import tariffs to weigh on LME pricing in the short term,\" analyst Lachlan Shaw says. It prefers BHP to Rio Tinto, given the latter's exposure to Mongolia and Guinea and geopolitical risk in both of those countries. (david.winning@wsj.com; @dwinningWSJ) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  July 03, 2025 18:58 ET (22:58 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}