Investors gained new insights into the performance and outlook for the big three S&P/ASX 200 Index (ASX: XJO) mining stocks in April, with each of them releasing quarterly updates.
Fortescue Ltd (ASX: FMG) (ASX: FMG) enjoyed the best share price performance over the month and was the only one to beat the 3.6% gains posted by the ASX 200 in April.
Fortescue shares closed out March trading for $15.37 and finished April at $16.19 apiece, up 5.3%.
Rio Tinto Ltd (ASX: RIO) shares came in at number two, climbing from $115.49 at market close on 31 March to $117.10 at market close yesterday, up 1.4%.
And BHP Group Ltd (ASX: BHP) brought up the rear in April. BHP shares ended March at $38.20 and closed out April changing hands for $38.19 each, or just about flat for the month.
ASX 200 mining stocks resilient amid commodity decline
The big three miners' April performance was stronger than you might expect if you look at the monthly moves in iron ore and copper prices, their top revenue earners.
Iron ore started the month at around US$104 per tonne and finished April at US$99 per tonne, down some 5%.
And amid global economy crimping trade war fears, even copper slumped in April. The red metal slid from US$9,710 per tonne at the end of March to US$9,125 per tonne yesterday, a loss of 6%.
But investors appear to have focused more on the fundamental strength of the big three ASX 200 mining stocks rather than lower commodity prices.
Here's a snapshot of what they reported to the market in April.
What's the latest from BHP, Fortescue, and Rio Tinto?
Fortescue shares closed up 5.8% on 29 April when the ASX 200 mining stock released its quarterly update.
Over the three-month period, Fortescue produced 55.5 million tonnes of ore, up 19% year on year. And total ore processed of 47.6 million tonnes was up 12%, while Fortescue shipped 46.1 million tonnes during the quarter, a 6% increase.
Commenting on the quarter, Fortescue Metals CEO Dino Otranto said:
We also completed the acquisition of Red Hawk Mining which supports our strategy to continually optimise our iron ore operations in the Pilbara, giving us the flexibility to enhance our future mine plan.
Rio Tinto released its quarterly update on 16 April.
The ASX 200 mining stock slumped 2.7% on the day after reporting that a series of storms saw iron ore shipments for the three months decline 9% year on year to 70.7 million tonnes The miner produced 69.8 million tonnes of iron ore, down 10% year on year.
And BHP announced its quarterly results the next day, on 17 April.
The BHP share price closed up 1.1% after the mining giant reported producing 61.8 million tonnes of iron ore, in line with the prior corresponding quarter. BHP noted that its year-to-date iron ore production in FY 2025 of 192.6 million marked a new record high.
BHP's quarterly copper production of 513,000 tonnes was up 10% year on year.
