European miners slump as copper prices retreat from record highs

Boliden AB

02/02/2026 08:23

** Shares in European copper miners fall as the prices of the metal plunged on Monday following the nomination of Kevin Warch as new Fed chairman and due to a weakened demand in China

** The European Basic Resources index .SXPP falls 3.3% and is set for a biggest daily drop in almost 10 months

** Among single stocks, Boliden BOL.ST, Glencore GLEN.L, Antofagasta .ANTO.L, Aurubis NAFG.DE fall around 4-6%

** Poland's KGHM KGH.WA plunges 10%; the Polish state-owned group also flagged management changes

** Copper price on the London Metal Exchange surged to record high $14,527 a ton last week

(Reporting by Boleslaw Lasocki)

((boleslaw.lasocki@thomsonreuters.com; +48 58 769 66 00;))