NEW YORK, December 30, 2025, 22:59 ET — Market closed
- Southern Copper (SCCO) closed up 0.1% at $145.48 after swinging between $145.34 and $149.33
- Copper traded near fresh highs as tariff worries and mine disruptions tightened supply, analysts said
- Traders look to a holiday-thin Dec. 31 session, key data points and the miner’s next earnings window
Southern Copper Corp (SCCO) ended slightly higher on Tuesday, closing up 0.1% at $145.48. The shares swung between $145.34 and $149.33 after opening at $148.09.
Copper prices stayed in focus after the metal edged toward $13,000 a metric ton in London, squeezed by mine disruptions and supply being pulled into the United States ahead of potential tariffs. “Tariff worries have encouraged buyers to front-load shipments into the U.S.,” SP Angel analyst John Meyer said in a note, referring to accelerated deliveries before possible duties; U.S. Comex prices were also trading above the London benchmark — a “premium” that reflects a tighter local market. 1
That matters for Southern Copper and its peers because copper is the main earnings lever for the sector. A Reuters markets columnist said tariff fears have distorted trade flows and driven stockpiling, leaving prices vulnerable to swings if policy direction becomes clearer in 2026. 2
Analyst action added a company-specific catalyst. Research firm Wall Street Zen upgraded Southern Copper to “buy” from “hold” in a Sunday report, MarketBeat said, while noting broader analyst sentiment remains mixed and the stock is trading near its highs after a strong 2025. 3
Across the sector, price action was choppy but mostly contained. Freeport-McMoRan (FCX) slipped 0.1%, while Rio Tinto (RIO) and BHP Group (BHP) edged higher as U.S. equities eased in thin year-end trade, Reuters reported. 4
Copper’s sharp run into year-end has been the backdrop for the group. Business Insider said copper is up about 42% in 2025, supported by tight-supply concerns and demand tied to electrification and AI data-center buildouts, with JPMorgan looking for prices around $12,500 a ton in early 2026 and Goldman Sachs pointing to $15,000 over the next decade. 5
Southern Copper is an integrated producer of copper and other metals, with mining, smelting and refining operations in Peru and Mexico, according to a Reuters company profile. 6
For now, traders in SCCO have largely been taking their cues from the metal and from liquidity conditions as 2025 winds down. The stock’s reversal from the day’s highs underscored how quickly gains can fade when volumes thin.
Before Wednesday’s session, investors will navigate a holiday-lean calendar: the NYSE and Nasdaq are set to trade regular hours on Dec. 31 but will be closed on Jan. 1, while bond markets are due to close early at 2 p.m. ET. MarketWatch said the main U.S. releases on Dec. 31 include initial jobless claims — a weekly snapshot of new filings for unemployment benefits — at 8:30 a.m. ET and the S&P Case-Shiller home price index at 9 a.m. 7
Asia data is also back on the radar for metal demand signals. China’s official factory PMI ticked back into expansion in December, Reuters reported — a closely watched gauge for the world’s biggest copper consumer. 8
Company-specific catalysts are limited until earnings season returns. MarketScreener lists Southern Copper’s next earnings release as a projected Jan. 28 event and shows the stock up about 65% so far in 2025. 9
Technically, traders will be watching whether SCCO holds Tuesday’s $145.34 low and can reclaim the $149 area that capped the early move. Copper tariff headlines — and any fresh signs of supply disruption — remain the key swing factors for miners heading into 2026.
