Australian Investment Blog

ASX:WIRE 04/12/2025

Copper stocks surge to fresh highs

Copper traded to new highs on the London Metal Exchange (LME) last night dragging related miners higher in its slipstream. On the ASX Sandfire (SFR) surged over 4%, trading above $17, also posting a fresh all-time high. Elsewhere, BHP Group (BHP) which now enjoys ~45% of its revenue from the industrial metal was trading +3.6%, posting fresh 2025 highs, exerting a major positive influence on the index.

Copper and related stocks have now achieved our minimum target into 2026, but we aren’t considering taking profit just yet.

MM remains long and bullish towards the copper thematic.

The Global X Copper Miners ETF (WIRE) also made fresh highs this morning, although we still see another ~10% upside short-term.

WIRE

MM remains bullish towards the Global X Copper Miners ETF (WIRE)

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Global X Copper Miners ETF (WIRE)

LAST UPDATED 04/12/2025 11:04

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