Copper miners slide as prices fall on rising LME inventories

Hudbay Minerals

06/03/2026 14:16

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

** Benchmark three-month copper CMCU3 fell 0.5% to $12,840 a ton

** Copper prices came under pressure due to high London Metal Exchange inventories

** Copper, used in power, construction and manufacturing, was on course to shed 3.8% this week, its steepest dip since the week ended April 4, 2025

** Shares of global mining giants Rio Tinto RIO.N and BHP Group BHP.N down 1.5% and 5.2%, respectively

** Copper miners Southern Copper SCCO.N drops 4% and Freeport-McMoRan FCX.N falls 3.3%

** Canada's Hudbay Minerals HBM.TO, HBM.N and ERO Copper ERO.TO, ERO.N down 2.5% and 1.3%, respectively

(Reporting by Varun Sahay in Bengaluru)

((Varun.sahay@thomsonreuters.com))