Copper miners gain on supply worries ahead of US Fed decision

Hudbay Minerals

08/12/2025 13:40

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

** Benchmark copper CMCU3 on the London Metal Exchange (LME) up 0.5% at $11,676 a metric ton from an earlier peak at $11,771 a ton, a gain of more than 30% this year

** Copper prices jump to a record high as a lower U.S. dollar ahead of the Federal Reserve's meeting later this week triggered a flurry of buying, while concerns about future shortages reinforced positive sentiment

** Global mining giants Rio Tinto RIO.N and BHP Group BHP.N each up marginally

** Southern Copper SCCO.N up 1.1% and Freeport-McMoRan FCX.N rises ~1%

** Canada's Hudbay Minerals HBM.TO, HBM.N up ~1% and Ero Copper ERO.TO, ERO.N gains marginally

 (Reporting by Pooja Menon in Bengaluru)

 ((Pooja.Menon@thomsonreuters.com))