On July 30, Southern Copper Corp rose 4.6% in regular trading, trading at $183.9/share, with turnover of $24.69 million. The stock had previously declined approximately 7% over two consecutive sessions, and this rebound aligns with a broader recovery across the copper sector.
On the news front, the copper industry's tight supply-demand balance continues to provide fundamental support. Domestic Shanghai Futures Exchange copper inventories fell to 69,000 tonnes, with social inventories declining 470,000 tonnes from annual highs. Spot premiums climbed to 470 yuan/tonne, while Yangshan copper premiums rose to $112/tonne, underscoring physical market tightness. Mining-end treatment charges remain in negative territory, with smelter raw material supply constrained, forming a floor for copper prices.
Within the Copper sector, peers posted broad-based gains: Freeport-McMoRan up 5.75%, TREKOR METALS up 3.87%, and Ero Copper up 3.44%, reflecting a clear sector-wide recovery following the prior correction triggered by rating downgrades.
(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.)
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