ASX 200 pares gains as BHP lifts iron ore miners, Reece dives

June 27, 2025 03:04 PM AEST | By Team Kalkine Media

ASX 200 pares gains as BHP lifts iron ore miners, Reece dives — Image source: Shutterstock

BHP Gains as Iron Ore Rebounds on Stronger Demand Outlook

BHP Group Ltd (ASX:BHP), a key component of the ASX 50, climbed following a rebound in iron ore prices. The rise came amid renewed strength in the steelmaking commodity, driven by sentiment around increased infrastructure spending in key export markets.

The lift in BHP helped buoy other mining names in early trade, anchoring the materials sector and providing a partial cushion against broader weakness.

Reece Ltd Declines Sharply Amid Sector Headwinds

Reece Ltd (ASX:REH) marked a sharp decline in the trading session, pulling the industrials sector lower. The downturn in its share price came without a specific catalyst disclosed during the morning, adding to negative sentiment in the space.

Broader Sectors See Mixed Sentiment in Afternoon Trade

Despite early gains, the market shifted into flat territory as the session progressed. Seven out of eleven sectors on the benchmark moved lower, led by declines in major banks and supermarket chains. These segments weighed down broader market indices, with trading volumes largely concentrated in heavyweight stocks.

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