BUZZ-Copper miners gain on record high prices, supply concerns

Reuters12-03 19:11
BUZZ-Copper miners gain on record high prices, supply concerns 

** U.S.-listed shares of copper miners rise premarket, tracking higher prices of the red metal

** Benchmark copper CMUCU3 on the London Metal Exchange hits record high of $11,338 a metric ton

** Copper prices rose, as supply concerns underpinned overall bullishness around the metal, while the market turned its attention to the U.S. Federal Reserve's interest rate decision next week MET/L

** Global mining giants Rio Tinto RIO.N up 1% and BHP Group BHP.N gains 1.1%

** Southern Copper SCCO.N up 1.4% and Freeport-McMoRan FCX.N rises ~2%

** Canada's Hudbay Minerals HBM.TO, HBM.N up ~1%, Teck Resources TECKb.TO, TECK.N and Ero Copper ERO.TO, ERO.N both rise 1%

(Reporting by Dharna Bafna in Bengaluru)

((dharna.bafna@thomsonreuters.com))

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