Copper miners rise as red metal hits record high over $14,000

Hudbay Minerals

29/01/2026 15:02

Updates

** Shares of copper miners rise, tracking higher prices of the red metal

** Benchmark copper CMCU3 on the London Metal Exchange surges 10.1% to record high of $14,410.50 a metric ton

** Prices rise as speculators extended their buying spree, encouraged by expectations of strong demand and supported by a weak dollar and geopolitical concerns MET/

** The U.S. dollar =USD steadied after the Federal Reserve left interest rates unchanged on Wednesday, but still hovered around recent lows

** Global mining giants Rio Tinto RIO.N and BHP Group BHP.N rise 3.1% and 4.1%, respectively

** Shares of miners Southern Copper SCCO.N rise 6.3%, Freeport-McMoRan FCX.N up ~5%

** Meanwhile, Canada's Teck Resources TECKb.TO up 4.1%, Hudbay Minerals HBM.TO rises 2.2% and Ero Copper ERO.TO advances 7.4%

 (Reporting by Dharna Bafna in Bengaluru)

 ((Dharna.bafna@thomsonreuters.com))