BUZZ-Copper miners fall as weak Chinese data raises demand concerns

Reuters
11/14
BUZZ-Copper miners fall as weak Chinese data raises demand concerns

** U.S.-listed shares of copper miners fall premarket, tracking the red metal's price MET/L

** Benchmark three-month copper CMCU3 on London Metal Exchange down 0.6% at $10,890 per metric ton, having slipped to as low as $10,827.50/metric ton earlier in the session

** Copper prices fall after weak economic data from top consumer China fanned concerns over demand and hopes of a further U.S. Federal Reserve rate cut this year faded

** The metal used in power, construction and manufacturing was still on course for a weekly gain of around 1.6%, having briefly crossed the $11,000 mark on Thursday. Copper hit an all-time peak of $11,200 on October 29

** Global mining giants Rio Tinto RIO.N falls 1% and BHP Group BHP.N down 2.5%

** Copper miners Southern Copper SCCO.N and Freeport-McMoRan FCX.N each down 1.1%

** Canadian miners: Hudbay Minerals HBM.TO, HBM.N slides 1.1%, Ero Copper ERO.TO, ERO.N down marginally and Teck Resources TECKb.TO, TECK.N falls 1%

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com))

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