Copper miners gain as market eyes China's smelter output cuts

Hudbay Minerals

01/12/2025 17:08

** Shares of copper miners rise, tracking higher prices of the red metal MET/L
** Benchmark copper CMCU3 on the London Metal Exchange up 0.4% at $11,235/metric ton, after an earlier all-time peak of $11,294.5
** Copper prices climb as the market focuses on plans by smelters in top producer China to cut output next year while a softer dollar reinforces positive sentiment, traders said
** Global mining giants Rio Tinto RIO.N and BHP Group BHP.N rise marginally
** Southern Copper SCCO.N up ~1% and Freeport-McMoRan FCX.N up marginally
** Canada's Ero Copper ERO.TO climbs 1.3% and Teck Resources TECKb.TO rises 3%

 (Reporting by Varun Sahay in Bengaluru)

 ((Varun.sahay@thomsonreuters.com;))