BUZZ-Copper miners gain as fears over US-China trade tension ease

Reuters
10/13
BUZZ-Copper miners gain as fears over US-China trade tension ease

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

** Benchmark copper CMCU3 on the London Metal Exchange up 1% at $10,613 a metric ton, after dropping more than 3% on Friday when President Donald Trump threatened sharply higher tariffs on Chinese imports

** Copper prices recovered as hopes of easing trade tensions between the United States and China and stronger Chinese imports of the industrial metal lifted sentiment

** Expectations of copper shortages due to supply disruptions in Indonesia, Chile and the Democratic Republic of Congo as well as prospects of U.S. interest rate cuts and a weaker dollar helped propel prices to 16-month highs at $11,000 a ton last week

** Global mining giants gain: Rio Tinto RIO.N up 3.2% and BHP Group BHP.N gains 4%

** Southern Copper SCCO.N up 3.8% and Freeport-McMoRan FCX.N up 4.1%

** Canada's Hudbay Minerals HBM.TO, HBM.N up 4.4%, Ero Copper ERO.TO, ERO.N up 4.3% and Teck Resources TECKb.TO, TECK.N gains 4.7%

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com;))

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