Top three Aussie miners to shed $11 bln in market value as commodity rout accelerates

📆 20/06/2022 16.10.00
📰 Reuters

⏱ Reading Time:
27 sec. here
2 min. at publisher
📊 Quality Score:
News: 14%
Publisher: 97%

Indonesia Berita Berita

Indonesia Berita Terbaru,Indonesia Berita utama

Australia's big three miners were on track to lose more than A$16 billion ($11.12 billion) in combined market value on Monday at current levels, as a commodities selloff over easing China demand and fears of a global recession deepened.

Lower output from Chinese steel mills has hit demand for iron ore, while prices of commodities like copper and aluminium have slumped on worries that aggressive interest rate hikes by the U.S. Federal Reserve's and other central banks could tip the global economy into a recession.

They seemed to lean towards the latter, confident that the slowdown in demand for commodities would be followed by a recovery that would be led by miners, adding that recession fears and inflation would give way to recovery. Analysts at JP Morgan also echoed risks to the sector but said fresh policy support along with easing COVID-19 lockdowns in China would spur a rebound in the second half of 2022, and maintained their "neutral" view on Rio Tinto and BHP.Register now for FREE unlimited access to Reuters.com

Tulis Komentar

Berita ini telah kami rangkum agar Anda dapat membacanya dengan cepat. Jika Anda tertarik dengan beritanya, Anda dapat membaca teks lengkapnya di sini. Baca lebih lajut:

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

Top Wall Street analysts say these are the best stocks to beat the volatile marketTipRanks analyst ranking service pinpoints Wall Street's best-performing stocks, including Apple and Bank of America. I remember this guy from redditt
Sumber: CNBC - 🏆 12. / 72 Baca lebih lajut »