Stock Track | Southern Copper Soars 7.37% Intraday on China Stockpiling Plans and Improved Risk Sentiment

Stock Track02-03 22:43

Southern Copper Corp's stock surged 7.37% during intraday trading on Tuesday, significantly outperforming the broader market.

The sharp rise in the copper miner's share price is attributed to a rally in copper metal prices, driven by news that China plans to increase its strategic stockpiles of the industrial metal. This development, coupled with a rekindling of risk appetite among global investors, lifted the entire copper mining sector.

Benchmark copper prices climbed 3.4% on the news, providing a direct boost to producers like Southern Copper. The positive sector sentiment reflects expectations of stronger demand and tighter supply fundamentals supporting higher metal prices.

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