<WIRE> Copper Miners Stumble on China Demand Concerns, Strengthening Dollar

The stock prices of copper miners experienced a downward turn, reflecting the pattern of the red metal’s price itself.

The three-month benchmark copper on the London Metal Exchange declined by 0.2 percent, sitting at $8,130 per tonne.

The dip in copper prices has been attributed to a mixture of challenging factors, including worries over demand from China, a predominant metals consumer.

An accumulation of high inventories, coupled with the continuous strain of a robust dollar and the anticipation of enduringly high interest rates adds to the pressure.

United States listed shares of internationally recognized mining magnates, Rio Tinto (ASX:RIO) and BHP Group, dipped 0.5% and 1%, respectively.

Other copper miners, such as Southern Copper and Freeport-McMoRan, fell 0.9% and 0.6%, respectively.

Canadian miners, First Quantum Minerals and Ero Copper, also reported decreases of 2% and 2.2%, respectively.

Rio Tinto (ASX:RIO) is a global mining giant that specializes in the mining and processing of mineral resources.

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