Copper miners down as red metal falls on oil surge, strong US dollar

Hudbay Minerals

19/03/2026 10:31

** U.S.-listed shares of copper miners fall premarket,  tracking lower prices of the red metal MET/L

** Benchmark three-month copper CMCU3 on the London Metal Exchange down 1.8% at $12,168 a ton, after dropping as much as 2.92% to $12,034/ton, the lowest since December 24

** Copper prices fall to their lowest level in three months, as oil spikes following Iranian attacks in the Middle East, stoking inflation fears and stronger U.S. dollar amid weakening rate-cut expectations

** Global mining giants Rio Tinto RIO.N falls 3.7% and BHP Group BHP.N down 2.8%

** Copper miners Southern Copper SCCO.N and Freeport-McMoRan FCX.N down 4.6% and 3.6%, respectively

** Canada's Hudbay Minerals HBM.TO, HBM.N slides 3.9%, Ero Copper ERO.TO, ERO.N down 2% and Teck Resources TECKb.TO, TECK.N falls 7.3%

 (Reporting by Pooja Menon in Bengaluru)

 ((Pooja.Menon@thomsonreuters.com;))