Australian copper miners surge as metal hits record high on supply woes

Sandfire Resources

12/05/2026 02:03

** Shares of Australian copper miners hit multi-month peaks to become among the top gainers on the broader benchmark, which is down 0.3%

** Copper prices were set to close at an all-time high as worries about supply shortages outweighed concerns about lower demand due to the stalemate in the Iran war MET/L

** Canada-based miner Capstone Copper's ASX-listed shares CSC.AX rise as much as 3.8% to A$13.51, extending gains for the second consecutive session

** Sandfire Resources SFR.AX advances 3.2% to A$19.13, on track for five consecutive sessions of gains

** Both stocks hit their highest point since early March

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))