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By Shashwat Awasthi
(Reuters) - Australia's big three miners were on track to lose more than A$16 billion ($11.12 billion) in combined market value on Monday at current levels, as a commodities selloff over easing China demand and fears of a global recession deepened.
Rio Tinto's Australia-listed shares were set to shed nearly A$2 billion in value, BHP more than A$10 billion, and Fortescue Metals over A$4 billion.
Lower output from Chinese steel mills has hit demand for iron ore, while prices...
>>> Read more: Top three Aussie miners to shed $11 billion in market value as commodity rout accelerates
(Reuters) - Australia's big three miners were on track to lose more than A$16 billion ($11.12 billion) in combined market value on Monday at current levels, as a commodities selloff over easing China demand and fears of a global recession deepened.
Rio Tinto's Australia-listed shares were set to shed nearly A$2 billion in value, BHP more than A$10 billion, and Fortescue Metals over A$4 billion.
Lower output from Chinese steel mills has hit demand for iron ore, while prices...
>>> Read more: Top three Aussie miners to shed $11 billion in market value as commodity rout accelerates
