SYDNEY, March 2, 2026, 18:27 (AEDT) — Market closed
- Mineral Resources shares ended down 2.1% at A$59.70
- Iron ore futures eased in Asia; lithium prices ticked higher
- Next focus: China data this week and MinRes’ April 30 quarterly update
Mineral Resources Ltd (ASX: MIN) shares fell 2.1% on Monday to close at A$59.70, as investors weighed mixed signals across the iron ore and lithium markets. 1
The move comes as traders head into a busy China week for the commodities that drive much of Australia’s mining earnings. A Reuters poll showed China’s official manufacturing PMI — a survey-based gauge of factory activity — is expected to stay below 50, the line between expansion and contraction, with the report due on Wednesday. 2
China’s annual parliament meeting later this week is also in focus, with investors looking for fresh policy signals and a new five-year roadmap at a time of patchy demand and tighter geopolitics. 3
For MinRes, the China read-through matters because the company has been leaning hard on cash generation and debt work. In its latest half-year results, it flagged record underlying EBITDA — earnings before interest, tax, depreciation and amortisation — of A$1.2 billion on revenue of A$3.1 billion and said it generated A$293 million in free cash flow; managing director Chris Ellison called it the company’s “strongest six-month period” and the board opted not to pay an interim dividend. 4
The stock swung between A$59.25 and A$62.49 during the session, before finishing lower than Friday’s close of A$60.98, according to delayed market data. 5
In bulk commodities, iron ore prices slipped in Asian trade. The most-traded Dalian contract fell 0.13% while the Singapore benchmark eased 0.16%, with Reuters reporting that steel output curbs in Tangshan and record portside inventories kept a lid on sentiment; “mounting stocks dampened mills’ appetite for restocking feedstocks,” Jinrui Futures analyst Guiqiu Zhuo said. 6
Lithium pointed the other way. Benchmark lithium prices tracked by Trading Economics rose 0.29% on Monday to 172,500 yuan a tonne, extending a sharp month-long rebound. 7
That volatility has been spilling into ASX lithium names. MarketIndex said Chinese lithium carbonate futures surged about 15% after the Lunar New Year break, with Pilbara Minerals jumping 24% last week. 8
But the path is not clean. A weaker China data run or prolonged steel curbs can pressure iron ore, while lithium rallies have a habit of reversing when supply responds or demand disappoints, leaving MinRes exposed on both sides of its book.
The next marked date for MinRes investors is April 30, when the company is scheduled to release its Q3 FY2026 quarterly report. 9
