New York, Jan 6, 2026, 01:06 EST — Market closed
- BHP’s U.S.-listed shares closed up about 2.2% at $63.14 on Monday, near a 52-week high
- Copper hit a record above $13,000 a ton, pulling miners higher on supply and policy jitters
- Next catalysts: BHP’s Jan. 20 operational review and Feb. 17 half-year results
BHP Group Ltd’s U.S.-listed shares ended Monday near the top of their 52-week range as copper prices hit fresh records. The stock closed up about 2.2% at $63.14 after trading as high as $63.51, according to Investing.com.
That matters now because copper has turned into the market’s live barometer for electrification and the data-centre buildout. For diversified miners like BHP, a sustained move in copper can shift the conversation quickly from volumes to cash generation.
The timing also puts focus on the next company checkpoints. BHP’s operational review for the half-year ended Dec. 31 is due on Jan. 20, followed by half-year results on Feb. 17, its financial calendar shows.
Copper prices “soared to records above $13,000 a metric ton” on Monday, Reuters reported, driven by supply concerns and a new layer of uncertainty around U.S. import tariffs. “Copper prices need to rise further to persuade miners to generate significant new production,” SP Angel analyst John Meyer said; Citi estimates refined output of 26.9 million tons this year, implying a 308,000-ton deficit, while Macquarie’s Alice Fox put last year’s global market in a surplus of more than 500,000 tons.
For BHP, the copper surge offers a tailwind that investors have not been able to take for granted in recent years, when mine disruptions and policy risk have whipsawed metals markets. The group’s copper exposure also makes it more sensitive to whether today’s price spike reflects a real supply squeeze or short-term inventory and hedging flows.
Technically, traders have started to treat the $63.50 area as the first line to defend, given Monday’s intraday peak. A failure to hold the recent breakout would refocus attention on whether copper’s rally can survive without fresh supply shocks.
Iron ore remains the other critical variable for BHP’s earnings power, and that tape has been steadier. Iron-ore futures in China “edged higher” on Monday as markets reopened after the holiday, with the most-traded May contract on Dalian up 0.76% and Singapore’s benchmark contract up 0.29%, a Reuters report carried by Mining Weekly said. Mining Weekly
The risk is that the copper move fades as quickly as it arrived. If tariff fears ease, metal could flow out of U.S. warehouses and pressure prices, and any cooling in Chinese steel demand would revive doubts about iron ore just as miners head into results season.
