Copper miners gain on Chinese shortages and Iran peace hopes

Freeport-McMoRan

21/07/2026 11:42

** U.S.-listed shares of copper miners rise premarket, tracking higher prices of the red metal MET/L
** Benchmark three-month copper CMCU3 on London Metal Exchange up 1.7% to $13,851 a metric ton
**  Copper prices supported by firm demand in top consumer China, declining inventories and hopes that mediators can revive a ceasefire in the Iran war
** Shares of global mining giants Rio Tinto RIO.N and BHP Group BHP.N gain 1.4% and ~3%, respectively
** Copper miners Southern Copper SCCO.N and Freeport-McMoRan FCX.N up 3.4% and ~4%, respectively
** Canada's Hudbay Minerals HBM.TO, HBM.N up 4%, Ero Copper ERO.TO, ERO.N advances ~6% and Teck Resources TECKb.TO, TECK.N gains ~2%

 (Reporting by Dharna Bafna in Bengaluru)
 ((dharna.bafna@thomsonreuters.com))