Southern Copper Corp (SCCO) stock is experiencing a significant pre-market plunge, dropping 6.32% as copper prices continue to decline. The stock's movement is part of a broader trend affecting copper miners, as the red metal heads towards its worst monthly performance since November.

The decline in copper prices is primarily driven by disappointing economic data from China, the world's largest metals consumer. Factory activity in China contracted at its fastest pace in 16 months in April, raising concerns about demand for copper and other industrial metals. As a result, benchmark copper on the London Metal Exchange fell 2.2% to $9,231 a metric ton.

Adding to the pressure on copper miners is the ongoing lack of progress in de-escalating the U.S.-China trade conflict. This geopolitical tension continues to create uncertainty in the global commodities market. The downturn is not limited to Southern Copper, as other major players in the industry, including Freeport-McMoRan, Rio Tinto, and BHP, are also experiencing pre-market declines ranging from 2.3% to 4.3%.