Copper miners soar in 2025 as red metal rallies

Hudbay Minerals

31/12/2025 12:48

** Copper miners set to end year on a high note, tracking 42% gain in prices of the red metal

** Supply concerns stemming from mine disruptions, weakness in the U.S. dollar and buying by speculators anticipating surging AI demand drive copper rally

** Global mining giants: Rio Tinto RIO.N up ~37% YTD, BHP Group BHP.N up ~25% YTD

** Canadian miner Hudbay Minerals HBM.TO, HBM.N posts strongest gains among copper miners, advancing 134% YTD

** Ero Copper ERO.TO, ERO.N climbs ~103%, while US miners Southern Copper SCCO.N and Freeport-McMoRan FCX.N gain 65.4% and 35% YTD, respectively

** Canadian miner Teck Resources TECKb.TO, TECK.N advances 12.6% YTD; co set to merge with London-listed Anglo American AAL.L in a $53 billion deal

** Goldman Sachs forecasts 2026 copper price of $11,400 per metric ton; says copper is its "favorite" industrial metal

(Reporting by Dharna Bafna in Bengaluru)

((Dharna.bafna@thomsonreuters.com))