Aussie Mining Shares Rally Under Pressure After Bumper Week
- Mining gauge set best week since July 2023 on lithium gains
- Rally may risk reversal as China growth concerns deepen
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The best week in over a year for Australia’s mining shares is at risk of reversing as concerns deepen over China’s growth trajectory.
Weakening factory output and consumption data in the world’s No. 2 economy may hurt the sector following the S&P/ASX 200 Materials Index’s 4.2% climb last week, its best since July 2023. The gains were driven by a rally in lithium and gold miners.