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BUZZ-Copper miners gain as red metal rises on dip-buying, tech shares recovery

Reuters
20 hours ago
BUZZ-Copper miners gain as red metal rises on dip-buying, tech shares recovery

** Shares of copper miners rise, tracking price of the red metal MET/

** Benchmark three-month copper CMCU3 was up 2.2% at $12,893 a metric ton as of 1700 GMT, after earlier climbing to $12,941

** Copper prices rise as investors stepped in to buy the dip and as industrial metals prices tracked a rebound in tech stocks

** "They rarely leave significant capital in the market" during the holiday, says Panmure Liberum analyst Tom Price, adding that volatility tends to increase and leads to dip buying

** Shares of global mining giants Rio Tinto RIO.N and BHP Group BHP.N up 2.9% and 1.4% respectively

** Copper miners Southern Copper SCCO.N climb 4.2% and Freeport-McMoRan FCX.N rise 2.7%

** Canada's Hudbay Minerals HBM.TO up marginally and ERO Copper ERO.TO rise 2%

(Reporting by Varun Sahay in Bengaluru)

((Varun.sahay@thomsonreuters.com))

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