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Copper Miners Gain As Red Metal Prices Rise On Short-Covering

Reuters12-15 21:14

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

Benchmark copper CMCU3 on London Metal Exchange up 1.4% at $11,670 a metric ton

Copper prices rise as some traders rolled forward positions ahead of a contract expiry this week, helping the market to set aside weak data and worries about the property sector in top consumer China for now

Copper hit a record high of $11,952 a metric ton on Friday on worries about tight supply and then saw a selloff amid renewed fears of the AI bubble bursting

Miner Southern Copper SCCO.N up 2.5% and Freeport-McMoRan FCX.N gains 3%

Canada's Hudbay Minerals HBM.TO, HBM.N rises ~2.3%, Ero Copper ERO.TO, ERO.N adds 3% and Teck Resources TECKb.TO, TECK.N up 2.3%

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