Mining stocks linked to copper hover near entry points as metal prices pull back from earlier gains on shifting trade policy expectations.
Copper prices, which rallied early Tuesday, lost ground as bets on expanded U.S. tariffs under Trump eased. The shift followed reports of progress in U.S.-Iran talks and a softer dollar, reducing near-term trade policy risks for the metal.
Mining shares, including BHP Group (BHP), Rio Tinto (RIO), and Anglo American (NGLOY), traded near buy levels despite the pullback. Earlier gains had been fueled by speculation over potential tariff hikes, but positioning adjusted as clarity on timing remained elusive.
The Nasdaq and S&P 500 extended their winning streaks to nine sessions, with broader market strength offsetting the copper sector’s wavering momentum.