London, Jan 18, 2026, 08:20 GMT — Markets have closed.
- On Friday, Anglo American shares dropped 2.4%, finishing at 3,240 pence.
- Copper retreated from its record peak as profit-taking kicked in and demand from China showed signs of weakening
- Next up: Anglo’s Q4 production report arrives Feb. 5, followed by full-year results on Feb. 20
Anglo American plc shares slipped 2.4% on Friday, closing at 3,240 pence after hitting a one-year peak close to 3,340 pence the previous day. Trading volume reached approximately 6.6 million shares.
This slide is significant because the stock has been tracking copper closely, and the metal’s recent fluctuations are once again driving daily moves among London’s major miners. When copper falters, the whole sector can quickly lose balance.
Markets were closed over the weekend, so investors are eyeing metals prices and demand cues from China ahead of Monday’s open. The calendar thickens in early February, when Anglo is set to release new figures.
London’s FTSE 100 closed Friday mostly flat, though miners took a hit amid concerns over slowing copper demand in China, the largest consumer. Glencore dropped 2.5%, while Rio Tinto slipped 1.8%, Reuters reported.
Benchmark three-month copper on the London Metal Exchange, the main global futures contract, slipped 1.2% to $12,955 a metric ton by 1100 GMT on Friday, after briefly hitting a one-week low of $12,774.5. Marex metals strategist Alastair Munro pointed to China’s efforts to curb speculation as a drag on metals prices. The Yangshan premium, which measures spot demand in China, dropped to $32 a ton, while copper inventories in Shanghai warehouses climbed to 213,515 tons—their highest level since April.
Copper has surged roughly 50% over the last year, hitting over $13,000 a ton on Thursday. Reuters Breakingviews points to stockpiling ahead of possible U.S. tariffs set for June, alongside supply disruptions at major mines, as key drivers.
Anglo’s stock reacts fast to these conflicting forces, given its central role in the copper market. Investors often use its shares as a quick, liquid way to bet on copper. On slow days, the stock price can move almost like a direct copper headline.
But the downside risk is clear. Should China’s physical demand fail to rebound and copper’s retreat stretches out, miners could quickly surrender recent gains, especially following a surge to new highs.
Anglo’s next key event is its Q4 2025 production update on Feb. 5, with full-year results due Feb. 20, according to the company’s investor calendar. Traders are also eyeing copper’s ability to hold ground after last week’s slide and monitoring if indicators of Chinese demand cease signaling caution.
