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BUZZ-Australian miners drop to one-month low as Middle East conflict rages on

Reuters
Yesterday
BUZZ-Australian miners drop to one-month low as Middle East conflict rages on

** The Australian mining sub-index .AXMM falls as much as 3.7%, hitting its lowest level since February 9

** Sub-index set for a fifth consecutive session of losses, if current trend holds

** Copper prices decline on intensifying supply concerns due to war-hit Middle East MET/L

** China's state-run iron ore buyer widened restrictions on buying new seaborne cargoes from major supplier BHP BHP.AX as months-long contract dispute drags on, Reuters reported on Thursday, citing sources IRONORE/

** Major miner BHP BHP.AX slumps 5.1% to its lowest point since February 16, peer Rio Tinto RIO.AX slips 3.5% to its lowest level since February 3

** Sub-index down 12.4% in the month so far

** YTD, day's losses cuts sub-index gains to 5.2%

(Reporting by Shivangi Lahiri in Bengaluru)

((shivangi.lahiri@thomsonreuters.com))

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