Copper miners fall as red metal edges lower on profit-taking

Hudbay Minerals

08/01/2026 14:28

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

** Benchmark three-month copper CMCU3 down 0.4% at $12,850 a metric ton

** Prices fall as investors locked in profits, extending a retreat from their recent sharp rally

** "The continued mirroring moves with precious metals suggest this is primarily profit-taking and position clean-up, rather than a major shift in the underlying trend," Sucden Financial analysts said in a note

** U.S.-listed shares of global mining giants Rio Tinto RIO.N and BHP Group BHP.N both down 1.4%

** Copper miners Southern Copper SCCO.N and Freeport-McMoRan FCX.N fell 1.3% and 1%, respectively

** Canada's Hudbay Minerals HBM.TO, HBM.N fell 1.8% and ERO Copper ERO.TO, ERO.N down 1%

 (Reporting by Varun Sahay in Bengaluru)

 ((Varun.sahay@thomsonreuters.com))