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<WIRE> Copper Miners Fall as Red Metal Hits 6-Week Low After Weak China Data: Rio Tinto (ASX:RIO), BHP Group (ASX:BHP), Southern Copper (ASX:SCCO), Freeport-McMoRan (ASX:FCX)



Shares of copper miners fell, tracking a decline in the price of the red metal.

The benchmark three-month copper CMCU3 on the London Metal Exchange dropped by 1.3% to $8,181 a tonne due to a worsening demand outlook from China, the top consumer, after the country released data showing slower industrial growth and falling investment in its property sector.

Copper prices plummeted to their lowest since June 29 at $8,163.9 a tonne.

U.S.-listed shares of global mining giants Rio Tinto (ASX:RIO) and BHP Group (ASX:BHP) fell 1.4% and 1.3%, respectively.

Additionally, copper miners Southern Copper (ASX:SCCO) and Freeport-McMoRan (ASX:FCX) were down 1.6% and 3.1%, respectively.

Canadian miners Ero Copper, Teck Resources, Hudbay Minerals and First Quantum Minerals also saw a decrease between 2% and 3.5%.

Rio Tinto is a global mining giant widely known for its advanced exploration, extraction, and processing methods in the mining industry.


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