Analysts see a tough year ahead for miners, with iron-ore and other commodity prices expected to weaken as tariffs imposed by the Trump administration weigh on global growth and China continues to grapple with tepid domestic demand.
"We continue to see the mining sector facing strong headwinds as global growth remains subdued and near-term commodity prices linger at lower levels," Citi analysts Paul McTaggart and Kate McCutcheon said in a research note.
Australia's Westpac forecasts iron-ore prices will weaken through this year, citing record inventory levels and new supply from the giant Simandou project in Guinea, set to enter the market this year.
