Major ASX 200 mining shares hit 52-week highs

Major ASX 200 mining shares reached new 52-week highs on Thursday amid higher commodity prices this week.

Overnight, the iron ore price rose 0.39% to US$107.77 per tonne.

That's a 3% rise in a week, which may not sound like much, but over the year to date, it makes up the bulk of the 4% overall gain.

The BHP Group Ltd (ASX: BHP) share price rose 3.8% to a 52-week peak of $44.60 before closing at $44.50 on Thursday.

The Fortescue Ltd (ASX: FMG) share price lifted 1.15% to a 52-week high of $22.03 and closed at $21.63.

The Rio Tinto Ltd (ASX: RIO) share price increased 3.9% to a 52-week high and closing value of $140.58.

The largest pure-play ASX 200 copper share, Sandfire Resources Ltd (ASX: SFR), also ripped on Thursday.

The Sandfire Resources share price rose 5.3% to an all-time record of $17.20 today before closing at $16.83.

At the time of writing, the copper price is trading at a four-month high of US$5.33 per pound, up 0.53%.

BHP and Rio Tinto have materially increased their exposure to copper amid higher demand due to the clean energy transition.

In fact, BHP is now the world's largest copper producer.

The red metal formed 45% of BHP's total underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA) in FY25, up from 29% in FY24.

The copper price has risen 5% this week and 34% in the year to date.

Analysts at Trading Economics commented on this week's copper price rise:

The advance tracked a record peak on the London Metal Exchange last Friday due to supply constraints, including lower output in Chile, planned cuts by Chinese smelters, and a weaker dollar.

The dollar softened as markets positioned for a possible Federal Reserve rate cut next week.

Since the end of August, copper has risen around 13% on the LME amid ongoing shortages.

At the same time, traders increased shipments to the US to capitalize on elevated Comex prices amid ongoing uncertainty over potential future tariffs from President Donald Trump.

ASX mining ETFs also hit new price milestones

Several ASX mining exchange-traded funds (ETFs) also reached new 52-week highs today.

SPDR S&P/ASX 200 Resources ETF (ASX: OZR)

The OZR ETF lifted to a 52-week high of $14.89 on Thursday.

BHP, Fortescue, and Rio Tinto shares comprise 48% of holdings.

Betashares Australian Resources Sector ETF (ASX: QRE)

The QRE ETF rose to a 52-week high of $8.62 apiece today.

BHP, Fortescue, and Rio Tinto shares make up 47% of this ETF's investments.

Global X Copper Miners ETF (ASX: WIRE)

The WIRE ETF rose to a record high of $20.62 today.

BHP and Sandfire Resources comprise almost 8% of holdings in this global copper ETF.

Capstone Copper Corp CDI (ASX: CSC) shares represent another 3.3%.

The post Major ASX 200 mining shares hit 52-week highs appeared first on The Motley Fool Australia.

Motley Fool contributor Bronwyn Allen has positions in BHP Group. 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 recommended BHP Group. 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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