BUZZ-Copper miners gain as market eyes China's smelter output cuts
Shares of copper miners rise as copper prices increase. Benchmark copper on the London Metal Exchange is up 0.4% at $11,235/metric ton. Copper prices climb due to planned output cuts by Chinese smelters and a softer dollar. Rio Tinto and BHP Group rise marginally, Southern Copper up ~1%, Freeport-McMoRan up marginally, Ero Copper climbs 1.3%, and Teck Resources rises 3%.
Shares of copper miners rise, tracking higher prices of the red metal (MET/L)
Benchmark copper (CMCU3) on the London Metal Exchange up 0.4% at $11,235/metric ton, after an earlier all-time peak of $11,294.5
Copper prices climb as the market focuses on plans by smelters in top producer China to cut output next year while a softer dollar reinforces positive sentiment, traders said
Global mining giants Rio Tinto (RIO.N) and BHP Group (BHP.N) rise marginally
Southern Copper (SCCO.N) up ~1% and Freeport-McMoRan (FCX.N) up marginally
Canada’s Ero Copper (ERO.TO) climbs 1.3% and Teck Resources (TECKb.TO) rises 3%
