Copper miners down on concerns about tariffs hitting US demand

U.S.-listed shares of copper miners fall premarket, tracking price of the red metal

Benchmark three-month copper CMCU3 on the London Metal Exchange (LME) down 0.8% at $9,622 a metric ton, down from the three-month peak of $10,020.50 touched on July 2

Copper prices fell as investors worried that the 50% tariff on the metal due to be imposed on U.S. imports will erode demand, and as speculators unwound positions

Global mining giants Rio Tinto RIO.N and BHP Group BHP.N each down marginally

Copper miners Southern Copper SCCO.N and Freeport-McMoRan FCX.N down 1.3% and 2.6%, respectively

Canadian miners Ero Copper ERO.TO, ERO.N falls marginally, Hudbay Minerals HBM.TO, HBM.N and Teck Resources TECKb.TO, TECK.N each fall 1.3%