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Highlights

  • Copper miners on the ASX rally after a sharp rise in copper prices following U.S. tariff easing.

  • Sandfire Resources surges 25.4%, marking its best intraday gain since 2009.

  • Capstone Copper and MAC Copper also post significant gains, reversing recent losses.

     

Australian copper miners soared on Thursday, riding a global wave of optimism sparked by U.S. President Donald Trump’s announcement of a temporary rollback on trade tariffs. The move not only lifted investor sentiment but also triggered a notable uptick in copper prices, which in turn boosted shares of copper producers listed on the Australian Securities Exchange (ASX).

The benchmark S&P/ASX 200 Index climbed 4.7%, following a significant overnight lead from global markets. Commodities and mining stocks were among the standout performers as easing trade tensions revived risk appetite.

Sandfire Resources (ASX:SFR) led the copper charge, jumping as much as 25.4% — its largest intraday surge since June 2009. The stock had already been gaining traction amid rising copper demand, and Thursday’s rally amplified momentum.

Capstone Copper (ASX:CSC), another major name in the sector, recovered sharply from its previous losses. The stock jumped 16.1% to AU$7.16, effectively wiping out an 8% decline from the prior session. .

MAC Copper (ASX:MAC) also moved higher, gaining 3.5% as investors looked to capitalise on the broader lift in the base metals market. While not as dramatic as the jumps seen in its peers, the rise contributes to the broader rally in mining-related stocks.