Miners of industrial metals slip as China's modest growth target disappoints

Materion

06/03/2023 19:17

** Shares of copper and other industrial metal miners fall
as China's unambitious growth target disappoints traders
    ** Fed Chairman Jerome Powell's testimony on Tuesday and
Wednesday, and U.S. non-farm payrolls data on Friday will also
be watched for clues on the outlook for U.S. interest rates,
traders say
    ** U.S.-listed shares of Australian mining giants BHP Group
 BHP.N ,  BHP.AX  and Rio Tinto  RIO.N , RIO.AX> fall 2.6% and
3.2%, respectively
    ** Benchmark copper  CMCU3  on the London Metal Exchange
(LME) down 0.5%, dragging miners of the red metal like First
Quantum Minerals  FM.TO , Freeport McMoran  FCX.N , Southern
Copper  SCCO.N  and Teck Resources  TECKb.TO  lower 0.4% to 3.2%
    ** Aluminium  CMAL3  slips 0.8%, pulling its miners Alcoa
Corp  AA.N , Kaiser Aluminum  KALU.O  and Century Aluminum
 CENX.O  down 1.5%-4.8%
    ** Nickel miners Talon Metals  TLO.TO , Vale SA  VALE.N  and
Materion Corp  MTRN.N  also fall as the metal on slips 0.4% 
    ** Other industrial metals such as lead  CMPB3 , tin  CMSN3 
and zinc  CMZN  also fall 0.2%, 1.1% and 1.3%, respectively

 (Reporting by Arshreet Singh in Bengaluru)
 ((Arshreet.Singh@thomsonreuters.com))