Copper miners gain on Chinese shortages, eroding inventories - COPX News | RalliesCopper miners gain on Chinese shortages, eroding inventories
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COPX• Copper miners rise as prices climb
- Shares of copper miners rise, tracking higher prices of the red metal MET/L.
- Benchmark three-month copper CMCU3 on the London Metal Exchange rises 1.5% to $13,826.50 a metric ton.
- Copper prices lifted by firm demand in top consumer China and sharp declines in inventories.
Global miners and producers advance
- Shares of global mining giants Rio Tinto RIO.N and BHP Group BHP.N gain 1.4% and ~3%, respectively.
- Copper miners Southern Copper SCCO.N and Freeport-McMoRan FCX.N up 4.3% and ~5%, respectively.
- Canada's Hudbay Minerals HBM.TO, HBM.N up ~8%, Ero Copper ERO.TO, ERO.N advances 6% and Teck Resources TECKb.TO, TECK.N gains ~2%.
