Copper and gold exploration companies Capstone Copper (ASX:CSC) and Greatland Resources (ASX:GGP) experienced falling share prices on the S&P/ASX 200 index today, which shrank by 0.34% to 8,930 points.
Capstone slumped by 5.8% to $11.51 a share while Greatland was down by 3.7% to $14.01 per unit in the first two hours of the Australian Securities Exchange opening for trade.
Mining multinational Newmont (ASX:NEM) dropped by 1.9% to $164.63 per share, while copper, zinc, lead, silver, and aluminium producer South32 (ASX:S32) decreased by 1.9% to $4.54 per share.
This downward trend has continued for three consecutive days. On April 9 the index dropped by 6.3% to 8,945.5 points. On April 10 the index decreased by 0.14% to 8,960.6 points.
“Over the last five days the index has gained 4.09% and is currently 2.97% off of its 52-week high,” the ASX markets website says.
As Mining.com.au previously reported, the index reported a third year of “positive returns” during 2025 despite “some concerns about the state of the world”.
“Big option trades using longer-dated contracts we found in January appear to be looking for continuation of this upward trend in 2026,” the ASX says.
Analysts predict recently resumed oil shipments in the Middle East will have a short-term positive impact.
“The key thing to watch for remains a significant and sustained pick up in the number of ships coming through the Strait of Hormuz – it has picked up but it is a fraction of normal levels,” AMP (ASX:AMP) Chief Economist Shane Oliver tells the Australian Associated Press.
“If this were to occur, even with Iran collecting a fee, it could allow the war to continue but with less impact on the global economy and markets,” he adds according to the newswire agency.
Write to Richard Szabo at Mining.com.au
Images: Marcus Reubenstein via Unsplash
