Australian copper miners slip as easing supply worries drag on metal prices
CS•Australian copper miners fell as rising inventories and the end of a strike at a major Chilean mine eased supply concerns and weighed on copper prices. Sandfire Resources fell as much as 3.1%, while Capstone Copper’s Australia-listed shares dropped as much as 1.9%.
1. Miners fall
Australian copper miners declined, while the broader benchmark fell 0.9%. Copper prices dropped overnight as rising inventories and the end of a strike at a major Chilean mine eased supply concerns. Sandfire Resources fell as much as 3.1% to A$19.95, and Capstone Copper’s Australia-listed shares fell as much as 1.9% to A$12.36; Capstone was on track for a second consecutive day of losses.
