These ASX 200 mining shares are bouncing back on Thursday

After a poor showing yesterday, S&P/ASX 200 Index (ASX: XJO) mining shares are staging a comeback today.

At the time of writing the ASX 200 is up 0.2% while the S&P/ASX 200 Materials Index (ASX: XMJ) is up 1%.

Atop from some likely bargain hunting among the big miners, which offer some juicy trailing dividend yields at current share prices, the ASX 200 miners look to be getting a lift from a 1.8% boost in iron ore prices overnight. The industrial metal, pressured lately by fears of a slowing Chinese economy hamstrung by COVID mitigation efforts, is trading for US$112 per tonne.

Which ASX 200 mining shares are lifting?

Some of the biggest names in the sector are helping propel the index higher.

Leading the charge is Mineral Resources Limited (ASX: MIN), up 4.2% to $1.78 per share.

BHP Group Ltd (ASX: BHP), among the world’s biggest miners, is also marching higher. Shares in the mining giant are up 1.4% to $38.28.

Meanwhile, the Fortescue Metals Group Limited (ASX: FMG) is up 2.3% while rival iron ore miner Rio Tinto Limited (ASX: RIO) has gained 3.2%.

Despite today’s welcome reprieve, all four of the ASX 200 mining shares are down more than 20% over the past 12 months as commodity prices have slipped from historic highs.

The post These ASX 200 mining shares are bouncing back on Thursday appeared first on The Motley Fool Australia.

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More reading

• ASX 200 midday update: Chalice Mining jumps, Zip sinks on bearish broker note
• 5 things to watch on the ASX 200 on Thursday
• The Woolworths share price outperformed the ASX 200 in FY22. Here’s why
• Here are the top 10 ASX shares today
• Should investors dig the BHP share price in July?

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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