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.
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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.
