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Investing.com -- Canadian copper miners Ero Copper and HudBay Minerals tumbled on Thursday as a sharp reversal in copper prices from record highs triggered a broad selloff in mining equities, while uncertainty over U.S. tariffs on refined copper added to investor concerns.
Ero Copper shares fell 7.9% to CA$48.70, after opening at CA$49.48 and touching a session low of CA$47.80. HudBay Minerals dropped 7.3% to $36.90, extending the pressure across copper-focused Canadian miners.
The selloff followed a steep pullback in benchmark three-month copper on the London Metal Exchange, which fell 3.1% to $14,312 per metric ton after briefly reaching a record $14,875 earlier in the session. The reversal came as reports indicated the White House had yet to finalize its position on tariffs on refined copper imports, with officials weighing concerns that higher copper prices could raise manufacturing costs for U.S. producers.
The uncertainty comes after copper's strong run, prompting investors to lock in gains and reassess valuations across the mining sector. Ero Copper had recently climbed toward its 52-week high of CA$56.62, while HudBay remained well above its 52-week low of $18.00 despite Thursday's decline.