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Highlights
- Mineral Resources (MIN) fell nearly 5% amid sliding iron ore prices
- Analysts revise iron ore forecasts downward amid weak demand
- Additional funding flows into Mt Marion lithium project
Shares of Mineral Resources (ASX:MIN) experienced a sharp decline in afternoon trade, reflecting a broader downturn in iron ore markets and persistent weakness in lithium pricing. The mining heavyweight stood out among ASX200 stocks for its underperformance, following a string of developments that weighed on investor sentiment.
By 2:29pm AEST, Mineral Resources' stock price had declined by 4.9%, reaching AU$22.52, making it the leading laggard on the ASX200. The retreat aligned with falling iron ore futures on the Singapore exchange, where prices dipped 0.46% to US$92.35 (approximately AU$142.01) per tonne.
This decline follows a revised outlook by market analysts, who trimmed their base three-month iron ore price forecast from US$100 to US$90, and their six-to-12-month projection from US$90 to US$85. The revision highlights concerns around a weakening demand outlook, particularly from major importers such as China.
The price pressure adds to an already cautious environment for mining companies, especially those with significant exposure to both iron ore and lithium. Earlier this week, Ganfeng Lithium — a joint venture partner of Mineral Resources — announced via the Hong Kong stock exchange that Mineral Resources will inject an additional AU$150 million into the Mt Marion lithium project. This decision is intended to support continued operations in light of persistently low lithium prices, ensuring stability at the Western Australia-based site.
With both of its key commodities—iron ore and lithium—under sustained price pressure, Mineral Resources is facing near-term headwinds. The company’s commitment to sustaining operations at Mt Marion reflects a strategic long-term view, but it comes at a time when investor sentiment remains fragile amid global macroeconomic uncertainties.
As one of the notable ASX200 stocks, Mineral Resources' performance is often viewed as a barometer for the broader mining sector. The current market reaction underscores the sensitivity of commodity-linked stocks to both price movements and analyst sentiment.
Market participants will be closely watching developments in global iron ore demand, lithium recovery timelines, and fiscal decisions taken by mining firms to navigate this uncertain terrain.
