BUZZ-Copper miners fall as red metal prices slip from three-month peak on Chinese data
Copper miners' shares declined as copper prices fell 0.5% to $9,850.50 per metric ton, retreating from a three-month high of $9,917. The drop was influenced by weak economic data from China and profit-taking, although losses were limited due to tight supply and strong premiums. Notable declines included Southern Copper down 1.5%, Freeport-McMoRan down ~1%, and Canadian miners Hudbay Minerals down 1.4%, Teck Resources down ~1%, and Ero Copper down 1.3%.
Shares of copper miners fall, tracking red metal’s prices
Benchmark three-month copper (CMCU3) on the London Metal Exchange down 0.5% to $9,850.50 per metric ton, having hit $9,917 a metric ton, its highest since March 27
Copper prices slipped from a three-month peak after weak data in top metals consumer China and some profit-taking, but losses were modest due to underlying tightness and buoyant premiums
Copper miners: Southern Copper (SCCO.N) fall 1.5% and Freeport-McMoRan (FCX.N) down ~1%
Canadian miners: Hudbay Minerals (HBM.TO) declines 1.4%, Teck Resources (TECKb.TO) down ~1% and Ero Copper (ERO.TO) shares fall 1.3%
