BUZZ-Copper miners rise after US and China agree to slash reciprocal tariffs

Reuters05-12
BUZZ-Copper miners rise after US and China agree to slash reciprocal tariffs

Updates

** Shares of copper miners rise, tracking prices of the red metal MTL/

** Benchmark three-month copper CMCU3 on the London Metal Exchange up 1% at $9,528 a metric ton

** Prices rose after the U.S. and China agreed to slash reciprocal tariffs, easing global recession fears

** Shares of global mining giants Rio Tinto RIO.N and BHP Group BHP.N rise 2.8% and 3%, respectively

** Copper miners Southern Copper SCCO.N and Freeport-McMoRan FCX.N up 3.1% and 4.2%, respectively

** Canadian miner Hudbay Minerals HBM.TO gains 9%, Teck Resources TECKb.TO up 5.9%

** Shares of HBM also rise as co posts Q1 profit and revenue beat as increased gold and copper prices helped offset lower production

(Katha Kalia in Bengaluru)

((Katha.Kalia@thomsonreuters.com))

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