Mining Stocks on Cusp of Supercycle as AI Boom Stokes Metals

The outperformance is a stark reversal from prior years when the sector was out of favor, hit by volatile commodity prices and fears of a growth slowdown in China, the world’s largest metals consumer. But fund managers, who had piled into tech and financial stocks, now appear reassured by Beijing’s pledges to support the economy, including via interest-rate cuts.