Movement Alert|Southern Copper Rises 3.13% in Regular Trading, Goldman Sachs Forecasts Copper Demand Growth to Outpace Mining Supply

Market Focus07-09

On July 9, Southern Copper rose 3.13% in regular trading, trading at $172.74/share, with turnover of $15.19 million. The stock rebounded sharply after declining approximately 3% in each of the prior two sessions.

On the news front, Goldman Sachs released a research report stating that copper demand growth is expected to persistently exceed mining supply over the coming years. The investment bank cited accelerating investment in power grid construction, renewable energy, electric vehicles, defense, and data center infrastructure as key demand drivers supporting the bullish outlook.

Within the Copper sector, stocks broadly rallied. Among individual stocks, TREKOR METALS rose 4.56%, Freeport-McMoRan rose 3.9%, and Ero Copper rose 3.29%. Southern Copper, incorporated in 1952, is one of the world's largest integrated copper producers, operating mining, smelting, and refining facilities in Peru and Mexico, with exploration activities in Argentina, Chile, and Ecuador.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment