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Copper miners up as red metal prices bounces after Trump sets a new tariff deadline

ReutersJul 10, 2025 1:09 PM

** U.S.-listed shares of copper miners rise premarket, tracking prices of the red metal

** Benchmark three-month copper CMCU3 on the London Metal Exchange up 1.2% at $9,742 a ton

** U.S. copper prices rebounded after President Donald Trump said a 50% tariff would be imposed from August 1, but held below their record peak due to a glut of metal already in the United States and uncertainty over details

** The most active COMEX copper futures contract HGc3 gains 2.1% at $5.60 a pound (lb), down from a record high of $5.90 touched on Tuesday

** Global mining giants Rio Tinto RIO.N and BHP Group BHP.N rise 2.4% and 3.3%, respectively

** Copper miners Southern Copper SCCO.N and Freeport-McMoRan FCX.N up 2.8% and 2.4%, respectively

** Canadian miners Hudbay Minerals HBM.TO, HBM.N up 1.7%, Ero Copper ERO.TO, ERO.N up 1.8% and Teck Resources TECKb.TO, TECK.N up 1.7%

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