Copper mining stocks surge pre-market as London copper prices hit $13,767; US-Iran ceasefire sparks resource rally

(1) The London Metal Exchange benchmark copper contract CMCU3 rose 0.5% on Monday to $13,767 per ton, as the US and Iran reached a framework agreement to end the conflict and reopen the Strait of Hormuz, easing concerns over energy-driven inflation and pressing down the US dollar. (2) Shares of global mining giants listed in the US rose accordingly, with Rio Tinto up 1% and BHP up 1.2%. (3) Copper miners Southern Copper and Freeport-McMoRan each gained 3.8%, showing a stronger performance. (4) Canadian miners led the gains, with Hudbay Minerals soaring 4.8%, Ero Copper rising 3.2%, and Teck Resources up 4%.