Copper miners rise as red metal prices bounce back

U.S.-listed shares of copper miners rise premarket, tracking higher prices of the red metal MET/L

Benchmark copper CMCU3 on London Metal Exchange up 1.3% at $12,920 per metric ton, after closing down 1.6% on Tuesday

The metal widely used in power, construction and manufacturing hit a record high of $13,407/metric ton one week ago

Copper prices rises after a sharp decline in the previous session as investors focused on tight inventories outside the United States, even as question marks linger over demand

Global mining giants Rio Tinto RIO.N up 4% and BHP Group BHP.N rise 1.4% each

Miner Freeport-McMoRan FCX.N gains 1.5%

Canada's Hudbay Minerals HBM.TO, HBM.N rises ~2%, Ero Copper ERO.TO, ERO.N adds 2.5% and Teck Resources TECKb.TO, TECK.N up 5.5%