Why Southern Copper Stock Jumped 15.6% in October
The stock of Southern Copper (NYSE: SCCO) jumped 15.6% in October, according to data provided by S&P Global Market Intelligence. Shares of the copper miner, in fact, shot up to prices not seen in more than two years, and continue to rally. They've gained another 3% this month, as of this writing.
As one of the world's largest copper miners, Southern Copper depends a great deal on copper prices. Thanks to China's swift recovery after the coronavirus lockdowns and a tight global copper supply, prices of the metal surged in October to multiyear highs, and Southern Copper shares rallied along.
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Source Fool.com
