Copper miners are witnessing a downward trend, mirroring the metal’s price.
The U.S.-listed shares of Rio Tinto (ASX:RIO) and BHP Group experienced a respective drop of 0.6% and 1%.
A three-month copper on the London Metal Exchange fell by 0.3% to $8,210 a ton.
This is due to less than satisfactory economic figures emerging from China, the top consumer, compounded by ongoing difficulties in the country’s property sector.
The metal, predominantly used in power and construction, is currently down 1% this week.
Other copper miners such as Southern Copper and Freeport-McMoRan also saw a decline in their shares by 2.5% and 1.6%, respectively.
Additionally, Teck Resources, First Quantum Minerals, Hudbay Minerals and Ero Copper recorded a drop between 0.1% and 1.6%.
Rio Tinto (ASX:RIO) is a British-Australian multinational and one of the world’s largest metals and mining corporations.