Copper miners fall on high inventories, macroeconomic headwinds

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

Benchmark three-month copper CMCU3 slips 0.4% to $12,267.50/metric ton, having fallen as much as 1.7% earlier in the session

Prices fall as elevated inventory levels and macroeconomic concerns pressured the metal

Shares of global mining giants Rio Tinto RIO.N and BHP Group BHP.N down 2.7% and 1.8%, respectively

Copper miners Southern Copper SCCO.N drops ~1% and Freeport-McMoRan FCX.N falls 3.4%

Canada's Teck Resources TECKb.TO, TECK.N and ERO Copper ERO.TO, ERO.N down 5% and 3.4%, respectively