ASX 200 materials shares beat the other 10 market sectors for a second consecutive week, with solid value growth of 3.65%.
Meanwhile, the ASX 200 reset its record high three times last week on the back of an interest rate cut and positive jobs data.
This week's 3.65% gain for the materials sector builds on last week's rise of 5.24%.
A strengthened iron ore price is supporting the ASX 200 iron ore miners, which are the largest shares in the materials sector.
The S&P/ASX 200 Index (ASX: XJO) lifted 1.49% to close the week at a new record high of 8,938.6 points.
Ten of the 11 market sectors finished the week in the green.
Let's recap.
Trading Economics analysts described "fresh signs of robust demand [for iron ore] from China" last week.
The iron ore price has traded above US$100 per tonne since 4 August and is up 5.5% over the past month.
Last week, BHP Group Ltd (ASX: BHP) shares rose 4.35% to finish at $41.96 on Friday.
The market's biggest miner will report its results next week.
The Fortescue Ltd (ASX: FMG) share price increased 5.25% to $19.84 on Friday.
We reported experts' views on whether investors should buy or sell Fortescue shares after a near 20% gain in a month.
The Rio Tinto Ltd (ASX: RIO) share price ascended 1.26% to $115.05 apiece.
The ASX 200 gold miners had a solid week, with the S&P/ASX All Ordinaries Gold Index (ASX: XGD) outdoing the benchmark, up 1.84%.
The Northern Star Resources Ltd (ASX: NST) share price lifted 1.33% to $18.32 per share.
Northern Star will report its results next week.
The Evolution Mining Ltd (ASX: EVN) share price rose 4.57% to $8.01 on Friday.
Newmont Corporation CDI (ASX: NEM) shares fell 0.54% to $106.10.
The materials sector also incorporates companies supplying chemicals, industrial gases, construction materials, and product packaging.
Last week, shares in building materials supplier James Hardie Industries plc (ASX: JHX) rose 6.29% to $45.60.
BlueScope Steel Ltd (ASX: BSL) shares rose 2.15% to $24.24 per share.
Shares in explosives company Orica Ltd (ASX: ORI) increased by 1.02% to finish at a 5-year high of $21.88 on Friday.
Shares in plastics packaging company Amcor CDI (ASX: AMC) dropped 7.73% to $13.60.
The catalyst was Amcor's FY25 results, released on Friday.
Amcor reported a 43% lift in EBITDA to US$789 million. My colleague James reported that this fell short of consensus expectations.
The ASX 200 materials share hit a 52-week intraday low of $13.21 on Friday.
Here's how the 11 market sectors stacked up last week, according to CommSec data.
Over the five trading days:
| S&P/ASX 200 market sector | Change last week |
| Materials (ASX: XMJ) | 3.65% |
| Consumer Staples (ASX: XSJ) | 2.45% |
| Healthcare (ASX: XHJ) | 2.41% |
| Utilities (ASX: XUJ) | 1.48% |
| A-REIT (ASX: XPJ) | 1.09% |
| Communication (ASX: XTJ) | 0.99% |
| Financials (ASX: XFJ) | 0.94% |
| Industrials (ASX: XNJ) | 0.72% |
| Energy (ASX: XEJ) | 0.69% |
| Consumer Discretionary (ASX: XDJ) | 0.22% |
| Information Technology (ASX: XIJ) | (1.44%) |
Last week, we revealed the top 10 ASX shares being bought by Aussie investors in the new financial year.
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