SYDNEY, March 2, 2026, 18:27 (AEDT) — Market closed
- Mineral Resources closed off 2.1% at A$59.70.
- Iron ore futures slipped in Asian trading; lithium prices inched up.
- Next up: China data arrives this week, with MinRes set for its quarterly update on April 30.
Shares of Mineral Resources Ltd (ASX: MIN) slipped 2.1% on Monday, ending the day at A$59.70. Investors appeared to wrestle with conflicting cues coming from both the lithium and iron ore markets. 1
Traders are bracing for a packed China calendar this week, a stretch likely to set the tone for key commodities underpinning Australia’s mining sector. According to a Reuters poll, China’s official manufacturing PMI is projected to remain under 50 — the tipping point that separates growth from decline in factory output. The data lands Wednesday. 2
Investors are zeroed in on China’s annual parliament gathering set for later this week, searching for clues on upcoming policy moves and details of the next five-year plan as demand remains uneven and geopolitical tensions persist. 3
China’s moves are crucial for MinRes, which has been doubling down on cash flow and debt reduction. In its most recent half-year, MinRes reported record underlying EBITDA of A$1.2 billion on A$3.1 billion revenue, plus A$293 million in free cash flow. Managing director Chris Ellison described it as the company’s “strongest six-month period”. The board, though, decided against paying an interim dividend. 4
Shares moved in a range from A$59.25 up to A$62.49 in the session, ultimately closing below Friday’s A$60.98 finish, delayed data showed. 5
Iron ore futures lost ground in Asia, with the Dalian contract down 0.13% and Singapore’s main contract off by 0.16%. According to Reuters, Tangshan’s steel output restrictions and record-high port inventories weighed on the market. “Mounting stocks dampened mills’ appetite for restocking feedstocks,” said Guiqiu Zhuo, analyst at Jinrui Futures. 6
Lithium prices moved higher. Benchmark rates followed by Trading Economics gained 0.29% Monday, climbing to 172,500 yuan per tonne and building on a steep rebound over the past month. 7
Lithium stocks on the ASX have been caught up in the volatility. MarketIndex pointed out that Chinese lithium carbonate futures spiked roughly 15% following the Lunar New Year holiday. Pilbara Minerals surged 24% last week. 8
The outlook isn’t straightforward. Softer Chinese numbers or extended steel restrictions could weigh on iron ore. Lithium’s gains, too, often flip fast if supply ramps up or buyers pull back, which puts MinRes in a precarious spot on both fronts.
MinRes has April 30 circled on its calendar—that’s when it will post its Q3 FY2026 results. 9
