Copper Miners Tumble as White House Tariff Doubt Halts Record Rally

Price ActionCommodityRegulation
โดย 24/7 Wall St.·USGB·Read original
Summary · why it matters

Copper mining stocks reversed a record rally in a single session after reports cast doubt on White House tariffs covering refined copper. Freeport-McMoRan fell 8% to $70.43, Southern Copper dropped 7% to $195.66, and Teck Resources slid 7% to $65.08, while the Global X Copper Miners ETF lost 7% as its three largest U.S.-listed constituents led the decline. Benchmark three-month copper on the London Metal Exchange fell 3.1% to $14,312 per metric ton after touching a record $14,875 earlier in the same session, as officials weighed how higher prices would feed into manufacturing costs. Despite the slide, Freeport-McMoRan remains up 40% year to date, Southern Copper 42%, and Teck Resources 36%. Freeport is the most copper-levered name in the peer set and still carries an operational overhang from the September 2025 mud-rush at Grasberg in Indonesia, while Teck is midway through a pending combination with Anglo American targeting $800 million in annual pre-tax synergies.

Impact on stocks 4

Critical Materials & Supply Chain▼ · 4 stocks
Freeport-McMoran Copper & Gold Inc
FCX
▼ NegativeTariffrelevance

Freeport fell 8% as doubt over White House refined-copper tariffs halted the record copper rally that had lifted the most copper-levered name.

Southern Copper Corporation
SCCO
▼ NegativeTariffrelevance

Southern Copper dropped 7% as reports cast doubt on White House tariffs covering refined copper, reversing the sector's record rally.

Teck Resources Ltd Class B
TECK
▼ NegativeTariffrelevance

Teck Resources slid 7% as tariff doubt on refined copper ended the rally; its pending Anglo American combination is noted as context.

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