U.S.-Listed Copper Mining Stocks Drop as Prices Retreat From Record High
Copper prices fell in premarket trading on Thursday after reaching a record high earlier in the session, leading to declines among U.S.-listed copper mining stocks. Benchmark three-month copper on the London Metal Exchange dropped by 3.1% to $14,312 per metric ton from its peak of $14,875. The decline followed reports that the White House has not yet decided whether to impose tariffs on refined copper due to concerns about rising manufacturing costs. Major mining companies saw significant stock price declines in premarket trading. Rio Tinto (RIO) shares fell 3.8%, BHP Group (BHP) dropped by 4.2%, and Southern Copper (SCCO) lost nearly 6.5%. Freeport-McMoRan (FCX) experienced the largest drop among copper-focused miners, with its stock falling approximately 8%. Canadian mining firms also faced losses, including Hudbay Minerals (HBM), Ero Copper (ERO), and Teck Resources (TECK).
Tickers: $BHP $ERO $FCX $HBM $PCU $RIO $TECK
Topics: copper mining stocks stock market reaction