Key takeaways:

• Commodity stocks, spanning iron ore, coal, and uranium lead this week’s top performers

Which shares excelled?

These were the major winners over recent trading sessions:

• Amid a broader rally for commodities, Coronado Global Resources (ASX: CRN) led coal stocks as international coal prices hit a four-month high with China bringing back online power plants to offset a hydroelectricity shortage tied to droughts

• The spot price of iron ore reached a six-month high, which meant major exporters of the key steel-making ingredient enjoyed a positive week, including Champion Iron (ASX: CIA) and Fortescue Metals Group (ASX: FMG), among others

• While the price of gold is trending lower this week, Evolution Mining (ASX: EVN) bucked that trend, with the miner extending its year-to-date gains to nearly 25%

• Uranium prices are surging at the moment, touching a ten-year high, in turn bolstering support for key players in this space like Boss Energy (ASX: BOE)

• A few other names that enjoyed a positive week include Silex Systems (ASX: SLX), Bapcor (ASX: BAP), Costa Group (ASX: CGC), and Ramsay Health Care (ASX: RHC)

Which shares dragged on the market?

These stocks weighed on the local market across the course of the week:

• One of the worst performers this week, Sims (ASX: SGM) hit an eight-month low after the scrap metal recycling company informed the market about subdued trading conditions in early FY24, forecasting breakeven earnings in Q1 due to demand and pricing issues

• Five months ago the share price of Chalice Mining (ASX: CHN) was trading around $8, but it is now well under $3 per share after investors honed in on the miner’s cost estimates for the Gonneville critical minerals project

• Australian fuel supplier Viva Energy Group (ASX: VEA) announced that Dutch oil trading giant Vitol sold a 16% stake in the business, with the market initially rattled by the unexpected block trade

• Internal selling weighed on the share price of luxury retailer Cettire (ASX: CTT), with the stock tumbling on Wednesday on the back of news that a director had sold 5,000 shares on-market

• Shareholders across the likes of Alpha HPA (ASX: A4N), Liberty Financial (ASX: LFG), Imdex (ASX: IMD), and IGO (ASX: IGO) were also left nursing paper losses due to share price declines for each of these stocks

We’ll be back next week with another Weekly ASX Trading Wrap Up – until then, have a great week!