S&P/ASX 200 Index (ASX: XJO) mining stocks, including Mineral Resources Ltd (ASX: MIN) and BHP Group Ltd (ASX: BHP) shares, are notching some new high-water marks today.
The strong rally among the big Aussie miners comes amid ongoing strength in global commodity prices.
This sees the S&P/ASX 200 Materials Index (ASX: XMJ) up 2% today, smashing the 0.5% gains delivered by the ASX 200 at this same time.
Here's what's happening.
ASX 200 mining stocks leading the charge
Kicking off with Australia's biggest ASX 200 mining stock, BHP shares are up 3.1% as we head into the Thursday lunch hour, trading for $49.60 apiece. That's the highest level since December 2023.
Among its own mining successes, BHP shares have enjoyed tailwinds from a resilient iron ore price and a surging copper price.
Iron ore, BHP's top revenue earner, is currently trading for US$108 per tonne, up from US$94 per tonne in early July. And at US$13,189 per tonne, the copper price is up 44% over 12 months. Copper counts as BHP's second-biggest revenue earner.
Lithium producer and diversified ASX 200 mining stock Mineral Resources is also vaulting to new one-year-plus highs, spurred by a strong rally in global lithium prices. Spodumene (a lithium bearing ore) hit two-year highs this week, trading for US$2,305 per tonne.
Mineral Resources shares are up 0.8% today, trading for $61.85 each, the highest level since June 2024.
Rival lithium producer, Pls Group Ltd (ASX: PLS) – formerly Pilbara Minerals – is also notching new 52-week-plus highs today.
PLS shares are up 0.8% at the time of writing, changing hands for $4.91 each. You have to go back to August 2023 to find PLS shares trading at a higher level.
Also notching new 52-week-plus highs today
BlueScope Steel Ltd (ASX: BSL) shares have also been steadily marching higher.
Shares in the painted and coated steel products manufacturer are up 3.6% today, swapping hands for $30.84 each. That's the highest level BlueScope shares have traded at since way back in September 2008.
BlueScope shares have surged in 2026 after the company received, and rejected, a takeover offer from a consortium comprised of SGH Ltd (ASX: SGH) and Steel Dynamics, Inc (NASDAQ: STLD).
Which brings us to the fifth ASX 200 mining stock leaping to new one-year-plus highs, South32 Ltd (ASX: S32).
South32 shares are up 4.3% today, trading for $4.13 each. The last time South32 shares traded at or above these levels was in May 2023.
