Copper miners gain on Chinese shortages, eroding inventories

Freeport-McMoRan

21/07/2026 15:51

Updates
** Shares of copper miners rise, tracking higher prices of the red metal MET/L
** Benchmark three-month copper CMCU3 on the London Metal Exchange rises 1.5% to $13,826.50 a metric ton
** Copper prices lifted by firm demand in top consumer China and sharp declines in inventories
** 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 4.3% and ~5%, respectively
** Canada's Hudbay Minerals HBM.TO, HBM.N up ~8%, 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))