Miners pace ASX gains as US-Iran tensions show signs of easing
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The news: Miners led gains across the ASX 200, rebounding from multi session losses following Donald Trump’s decision to postpone strikes on Iran’s energy infrastructure.
Genesis Minerals (+6.26%), Sandfire Resources (+4.51%), PLS (+4.22%) and Capstone Copper (+4.21%) were among the best performing stocks in afternoon trade, at 2:05pm AEDT.
The context: The Australian mining sub-index rose as much as 4.1%, its biggest gain since 10 April 2025, as signs of a potential de-escalation in the Middle East supported metals prices.
The mining sector had declined following the outbreak of the US-Iran conflict on fears that it would weigh on global economic growth. On Monday, comments from Donald Trump lifted copper prices, while gold recovered some recent losses.
Elsewhere, US stock index futures had fallen after Bloomberg reported that US allies in the Persian Gulf are moving closer toward joining the conflict against Iran, while Asian shares pared gains after an Iranian lawmaker ruled out negotiations with the US.
The source: Bloomberg
