Materials led the 11 ASX 200 market sectors for a second week, rising 3.86% as rising commodities continued to propel mining shares.
Some commodities have risen by more than 25% and even up to 70% in just a month, and many miners hit multi-year highs last week.
They included the ASX 200's largest mining share, BHP Group Ltd (ASX: BHP), as well as fellow diversified miners, Mineral Resources Ltd (ASX: MIN) and South32 Ltd (ASX: S32).
Others that hit multi-year highs included ASX 200 lithium major PLS Group Ltd (ASX: PLS), gold large-cap Newmont Corporation CDI (ASX: NEM), copper pure-play Sandfire Resources Ltd (ASX: SFR), and aluminium stock Alcoa Corporation CDI (ASX: AAI).
The broader market also had a strong week. The benchmark S&P/ASX 200 Index (ASX: XJO) rose 2.13% to finish at 8,903.9 points.
Nine of the sectors finished the week in the green.
Let's review.
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ASX 200 mining shares' unstoppable trajectory
The BHP share price reached a two-year high of $49.75 per share on Thursday.
BHP shares closed 2.66% higher for the week at $48.99 on Friday.
The Fortescue Ltd (ASX: FMG) share price rose 0.48% to $22.82 while Rio Tinto Ltd (ASX: RIO) lifted 3.63% to $148.25.
The Mineral Resources share price lifted 4.71% to $59.78 while South32 gained 8.05% to $4.16.
Among the ASX 200 pure-play copper stocks, Sandfire Resources shares ascended 2.68% to close at $19.15.
Capstone Copper Corp CDI (ASX: CSC) shares finished 7.72% higher at $15.63.
ASX 200 lithium shares also had a good week, with PLS Group shares lifting 0.65% to $4.68.
PLS Group shares hit a two-and-a-half-year high of $5.04 on Thursday, and profit-taking was apparent on Friday.
The Liontown Ltd (ASX: LTR) share price rose 4.88% to $2.15, while IGO Ltd (ASX: IGO) increased 2.66% to $8.88.
ASX 200 gold shares benefited from another resetting of the gold price record at US$4,642.58 on Wednesday.
The ASX 200's largest gold share, Northern Star Resources Ltd (ASX: NST), rose 8.54% to close at $26.83 on Friday.
The Evolution Mining Ltd (ASX: EVN) share price rose 2.34% to $13.12, and Newmont lifted 7.53% to $169.25.
Among ASX 200 ASX rare earths shares, Lynas Rare Earths Ltd (ASX: LYC) increased 9.79% to $15.48.
Arafura Rare Earths Ltd (ASX: ARU) shares fell 5% to 28 cents per share.
Bauxite and alumina producer Alcoa rose 4.45% to $95.28 per share on Friday.
Soaring ASX 200 mining shares prompted many brokers to issue revised 12-month share price targets last week.
ASX 200 market sector snapshot
Here's how the 11 market sectors stacked up last week, according to CommSec data.
Over the five trading days:
| S&P/ASX 200 market sector | Change last week |
| Materials (ASX: XMJ) | 3.86% |
| Consumer Discretionary (ASX: XDJ) | 2.84% |
| Financials (ASX: XFJ) | 1.93% |
| Energy (ASX: XEJ) | 1.86% |
| Industrials (ASX: XNJ) | 1.8% |
| A-REIT (ASX: XPJ) | 1.72% |
| Consumer Staples (ASX: XSJ) | 1.31% |
| Healthcare (ASX: XHJ) | 1.07% |
| Communication (ASX: XTJ) | 0.09% |
| Information Technology (ASX: XIJ) | (1.38%) |
| Utilities (ASX: XUJ) | (3.05%) |
