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Miners shield ASX from trade war as iron ore eyes $US100

Alex Gluyas
Alex GluyasMarkets reporter
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An unexpected revival in iron ore prices is helping cushion the Australian sharemarket from US President Donald Trump’s latest tariff shocks, propelling a rotation away from Commonwealth Bank and into the major miners.

Iron ore futures in Singapore rallied around 4 per cent last week to $US99.50 a tonne, sealing a third straight weekly gain – its best run since January.

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Alex Gluyas is markets reporter based in the Melbourne newsroom. Connect with Alex on Twitter. Email Alex at alex.gluyas@afr.com
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    Original URL: https://www.afr.com/markets/equity-markets/miners-shield-asx-from-trade-war-as-iron-ore-eyes-us100-20250713-p5meif