London, Jan 22, 2026, 08:45 GMT — Regular session.
- Anglo American shares held steady early Thursday, following a nearly 5% surge on Wednesday that pushed the stock to a new one-year peak
- Copper’s rebound has stabilized miners, yet demand cues from China are showing signs of weakening
- Coming up: Teck-merger milestones on Feb. 3 and Feb. 10, alongside Anglo’s production report due Feb. 5
Anglo American shares held steady in early London trade on Thursday, inching up roughly 0.03% to 3,402 pence by 0846 GMT. The stock fluctuated between 3,369 and 3,414 pence during the session.
The stock now trades near the high of its one-year range following a sharp jump yesterday. This is significant since investors are once again valuing miners based on copper prices—and copper itself has begun to twitch in rapid, jittery spikes.
Anglo American finds itself at a tricky yet opportunistic moment. As a major copper producer, it faces a packed schedule, meaning the coming weeks could quickly shift market expectations.
Anglo American surged 4.87% on Wednesday, closing at 3,401 pence after hitting a fresh 52-week peak of 3,430 pence. Trading volume, however, lagged behind its recent average, according to MarketWatch data.
Copper climbed 0.4% on Wednesday to $12,796 a metric ton on the London Metal Exchange, bouncing back after Tuesday’s dip. But the rally’s staying power remains in question. Neil Welsh, head of metals at Britannia Global Markets, cited “structural tightness” as a key driver behind the price rise. On the other hand, Dan Smith, managing director at Commodity Market Analytics, expressed skepticism about the recovery, highlighting weaker Chinese import data and volatile spot-versus-three-month spreads. Reuters
Mining shares held the spotlight in London as Rio Tinto jumped 5% on Wednesday after releasing its quarterly production figures. Meanwhile, worries over U.S. tariff threats kept the wider market on edge.
Anglo’s merger news remains on the sidelines for now. EU regulators are expected to rule on its planned deal with Teck Resources by Feb. 10. Another review, focused on the bloc’s foreign subsidies rules, is set for Feb. 3, per a filing from the European Commission.
But the situation runs both ways. A sharper drop in copper—especially if demand from China continues to weaken—or a shift in tariff news could slam miners fast, and shares trading close to recent highs rarely enjoy much breathing room.
Anglo’s next major event is the Q4 2025 production report, set for Feb. 5 at 0700 GMT, according to its investor calendar. Full-year results follow on Feb. 20.
