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U.S.-listed copper mining stocks fell in premarket trading on Thursday as copper prices declined after reaching a record earlier in the session.
Benchmark three-month copper on the London Metal Exchange fell 3.1% to $14,312 per metric ton after touching a record $14,875 earlier in the day.
The decline followed reports that the White House has not yet reached a decision on tariffs for refined copper as officials consider concerns about the potential impact of higher prices on manufacturing costs.
Rio Tinto (NYSE:RIO) shares fell 3.8% in premarket trading, while BHP Group (NYSE:BHP) declined 4.2%.
Among copper-focused miners, Southern Copper (NYSE:SCCO) dropped 6.5%, while Freeport-McMoRan (NYSE:FCX) fell approximately 8%.
Canadian mining companies also moved lower. Hudbay Minerals (NYSE:HBM) declined 6.2%, Ero Copper (NYSE:ERO) lost 5.6% and Teck Resources (NYSE:TECK) fell 7.7%.
Hudbay Minerals Inc stock price
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U.S.-Listed Copper Mining Stocks Fall as Copper Retreats From Record High
U.S.-listed copper mining stocks fell in premarket trading on Thursday as...