Copper miners gain on record high prices, supply concerns

Hudbay Minerals

03/12/2025 11:11

** U.S.-listed shares of copper miners rise premarket, tracking higher prices of the red metal

** Benchmark copper CMUCU3 on the London Metal Exchange hits record high of $11,338 a metric ton

** Copper prices rose, as supply concerns underpinned overall bullishness around the metal, while the market turned its attention to the U.S. Federal Reserve's interest rate decision next week MET/L

** Global mining giants Rio Tinto RIO.N up 1% and BHP Group BHP.N gains 1.1%

** Southern Copper SCCO.N up 1.4% and Freeport-McMoRan FCX.N rises ~2%

** Canada's Hudbay Minerals HBM.TO, HBM.N up ~1%, Teck Resources TECKb.TO, TECK.N and Ero Copper ERO.TO, ERO.N both rise 1%

 (Reporting by Dharna Bafna in Bengaluru)

 ((dharna.bafna@thomsonreuters.com))