Copper miners rise as red metal surges on weak dollar, geopolitical risks

Hudbay Minerals

29/01/2026 11:08

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

** Benchmark copper CMCU3 on the London Metal Exchange surges 6.3% to $13,913.50 a metric ton, after hitting an all-time high of $14,125 earlier in the session

** Prices rise as part of a broad metals rally, supported by investors' appetite for physical assets on a weak dollar and geopolitical turmoil 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 2.5% and 3.1%, respectively

** Shares of miners Southern Copper SCCO.N rise 4.1%, Freeport-McMoRan FCX.N up ~5%

** Meanwhile, Canada's Teck Resources TECKb.TO, TECK.N up 4%, Hudbay Minerals HBM.TO, HBM.N rises 5.3%, and Ero Copper ERO.TO, ERO.N advances ~6%

 (Reporting by Dharna Bafna in Bengaluru)

 ((Dharna.bafna@thomsonreuters.com))