Miners of base metals fall as China's consumer inflation slows

Canada Nickel

09/03/2023 17:57

** Shares of copper and other base metal miners fall after
economic data in China underlined worries about sluggish demand
    ** Easing supply disruptions in major copper-producing
countries also weighed on prices
    ** U.S.-listed shares of Australian mining giants BHP Group
 BHP.N ,  BHP.AX  and Rio Tinto  RIO.N ,  RIO.AX  fall 0.8% and
1.4%, respectively
    ** Benchmark copper  CMCU3  on the London Metal Exchange
(LME) down 0.7%, dragging miners of the red metal like Southern
Copper  SCCO.N , Freeport McMoran  FCX.N , Teck Resources
 TECKb.TO  and First Quantum Minerals  FM.TO  lower 2% to 7.1%
    ** Aluminium  CMAL3  slips 1.1%, pulling its miners Kaiser
Aluminum  KALU.O , Arconic Corp  ARNC.N , Century Aluminum
 CENX.O  and Alcoa Corp  AA.N  down 1.5%-5.3%
    ** Nickel miners Vale SA  VALE.N , Canada Nickel Co  CNC.V 
and Polymet Mining  POM.TO  also fall as the metal slides 3.1%
    ** "We're not seeing that real demand take off in China and
there are still worries about what Powell is saying and if he's
changing his mind," said Robert Montefusco at broker Sucden
Financial  urn:newsml:reuters.com:*:nL1N35H0S4

 (Reporting by Arshreet Singh in Bengaluru)
 ((Arshreet.Singh@thomsonreuters.com))