Sandfire Resources Ltd (SFR.AU) saw its stock price surge by 5.64% during Tuesday's trading session, as Australian-listed copper miners experienced a strong rebound. This upturn comes after a period of heavy sell-offs in the previous session, which were driven by economic uncertainty.
The recovery in copper miners' stocks is closely tied to the stabilization of copper prices in the global market. Investors are now eagerly awaiting further clues on the global economic outlook, with the copper benchmark posting marginal gains. This positive sentiment has provided a boost to companies in the copper mining sector.
While Sandfire Resources saw a significant increase, it wasn't alone in its upward movement. Other copper miners also benefited from this trend, with Australia-listed shares of Capstone Copper (CSC.AX) leading the pack with a remarkable intraday jump of up to 7.2%, reaching A$6.850 - its biggest single-day gain since mid-August 2024. The broader recovery in the sector suggests renewed confidence among investors in copper-related stocks, despite recent economic concerns.