On September 10, Southern Copper Corp fell 5.14% in regular trading, trading at $193.67/share, with turnover of $35.43 million. The decline came amid a sharp selloff across the copper sector triggered by reports that the White House has not yet made a decision on refined copper tariffs.

Copper prices dropped sharply during the session, with LME copper falling over 3% to $14,288.5/ton after earlier touching a record high of $14,875/ton, while COMEX copper tumbled over 4%. The tariff uncertainty disrupted a rally that had been fueled by expectations of a 15% U.S. import tariff on refined copper, global mine supply tightening, and surging demand from EVs, solar, wind power, and AI data centers. Traders had been aggressively front-loading copper shipments into U.S. warehouses, draining inventories elsewhere and tightening global supply.

The broader copper sector saw steep losses, with Freeport-McMoRan down 7.03%, Ero Copper down 7.84%, and TREKOR METALS down 7.39%. Despite the pullback, LME and COMEX copper remain up over 14% and 10% respectively year-to-date.

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