Why Mining Stock Prices Crashed in August
Shares in mining companies slumped across the board in August, according to data provided by S&P Global Market Intelligence. Whether it was copper-focused companies like Southern Copper (NYSE: SCCO), Freeport-McMoran (NYSE: FCX) and Antofagasta, or miners with broader exposure like Rio Tinto (NYSE: RIO) (iron ore, aluminum, copper, and coal) and BHP Group (NYSE: BHP) (iron ore, copper, coal, and petroleum), the result was the same: a stock price decline in the low to mid teens.
The month completed yet another volatile period that left investors debating whether metals and mining commodity prices were likely set to stagnate or were merely dipping en route to a long-term sustained recovery following the slump in 2015-2016.
Image source: Getty Images.
Source Fool.com
