Company News

BUZZ-Copper miners gain as metal prices rally on trade optimism

** Shares of copper miners mirrored gains in copper prices on U.S.-China trade optimism

** Three-month copper on the London Metal Exchange was up 2.1 pct at $5,856/tonne at 0704 GMT

** China and the U.S. to hold trade talks on Monday and Tuesday, as the two countries face pressure to end a trade war that hurt the global financial & commodity markets

** China accounts for half of global copper consumption estimated at about 24 mln tonnes in 2019

** U.S. miners Freeport-McMoran up ~8.5 pct, Southern Copper Corp up 7.3 pct, Hecla Mining up ~ 3 pct; Canadian Trevali mining and Teck Resources also trade in positive territory

** Last year, FCX slumped ~45 pct and SCCO declined ~35 pct, compared to a ~ 26 pct decline in S&P Composite 1500 Metals & Mining index (Reporting by Divya R in Bengaluru)