Copper Mining Stocks Plunge on Tariff Uncertainty

US-listed copper mining stocks fell in premarket trading on Thursday after copper prices retreated from their record high earlier in the session.

Benchmark three-month copper on the London Metal Exchange dropped 3.1% to $14,312 per metric ton following reports that the White House has not yet decided on refined copper tariffs amid concerns over higher manufacturing costs.

Shares of global mining companies Rio Tinto () and BHP Group () declined by 3.8% and 4.2%, respectively.

Copper miners Southern Copper () and Freeport-McMoRan () fell 6.5% and approximately 8%, respectively, while Canadian mining companies Hudbay Minerals (), Ero Copper (), and Teck Resources () lost 6.2%, 5.6%, and 7.7%, respectively.