Copper, zinc, lead, and silver multinational Newmont (ASX:NEM) is a strong performing stock on the S&P/ASX 200 index, which rose 1.22% to 8,468.20 per share.
Newmont share prices rose by 7% to $141.19 per share. Fellow copper, zinc, lead, silver, and aluminium producer South32 (ASX:S32) was also up by 3.3% to $3.98 a share.
Bauxite, alumina, and aluminum producer Alcoa (ASX:AAI) increased by 8.7% to $81.69 within the first hour of the Australian Securities Exchange opening for trade.
The index fell sharply on 23 March by 1.73% to 8,282.90 points, 20 March by 0.33% to 8,470.10 points, and 19 March by 1.62% to 8,501 points.
The index earlier rose on 18 March by 0.08% to 8,621 points and the day prior by 0.19% to 8,599.80 points.
“Over the last five days the index has lost 1.7% and 2.82% year to date,” 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 the ongoing Israel-Iran-US conflict will impact on commodity prices and economic growth. Vantage senior market analyst Hebe Chen sees “acute” pressure across the resources sector.
“When the world’s most critical oil choke point becomes a public bargaining chip, there are few places to hide — and Australia’s commodity-heavy market is feeling that more acutely than most,” Chen tells the Australian Associated Press.
“Basic materials stocks are caught in an especially cruel position — the same war that pushed oil higher is now threatening to slow the economies that consume Australia’s iron ore, copper, and coal,” he adds according to the newswire agency.
Write to Richard Szabo at Mining.com.au
Images: Marcus Reubenstein via Unsplash
