Movement Alert|Southern Copper Corp Rises 3.03% in Regular Trading, Copper Inventory Destocking and Cooling Rate Hike Expectations Lift Sector Rebound

Market Focus
Aug 19

On August 19, Southern Copper Corp rose 3.03% in regular trading, trading at 193.68 USD/share, with turnover of $6.599 million. The copper sector strengthened broadly, with TREKOR METALS up 2.99%, Ero Copper up 3.0%, and Freeport-McMoRan up 1.98%.

On the news front, global copper inventories continued to draw down, with LME copper stocks declining 8.07% week-over-week and domestic electrolytic copper social inventories remaining at historical lows. Meanwhile, the probability of a Fed 25bp rate hike in September dropped from 44.4% to 33.1%, signaling a notable cooling in tightening expectations. The tight supply dynamic combined with shifting monetary policy expectations provided support for copper prices, driving a collective sector rebound following the prior session's pullback.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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