London, June 6, 2026, 14:07 BST
- Anglo American closed Friday at 3,856p, dropping 5.16%. The FTSE 100 finished a bit higher.
- The stock is trading close to the 52-week high from earlier this week, and investors are deciding if the recent drop is just profit-taking or a larger adjustment for miners.
- Copper prices, the Teck merger schedule and Anglo’s asset sales are what traders are watching this week.
Anglo American dropped 5.16% to 3,856p on Friday, a steep fall that capped the week as miners in London slipped. The FTSE 100 edged up, but that didn’t stop the selling in Anglo American. Saturday trading was closed. Prices shown are from Friday’s session.
Anglo’s rally lost steam this week after hitting a 52-week high of 4,239p on June 2, then falling 9.04% by Friday’s close, according to FT market data. The stock dropped about 3.3% from the May 29 close of 3,988p.
FTSE’s small move as inflation outlook weighs The FTSE 100 inched up 0.07% Friday, while the FTSE 250 lost 1%. Investors cited UK data showing U.S.-Iran war inflation pressure looked softer, according to Reuters. “The weakness of the labour market” could keep second-round inflation effects in check, Paul Dales, chief UK economist at Capital Economics, told Reuters. Reuters
London miners fell on Friday. Trading Economics reported Rio Tinto, Glencore, Anglo American, Antofagasta and Fresnillo all lost ground. Anglo dropped around 5%, while Antofagasta slipped over 5%.
Copper dropped 3.97% to $6.25 a pound on June 5, Trading Economics said. Prices are still up on the month and sharply higher this year. Copper is at the center of Anglo’s investment case, since it’s used in power networks, construction and electrification.
Earlier this week, miners had topped the market. Alliance News said Tuesday that Antofagasta, Glencore and Anglo were leading gainers on the FTSE 100 as metals prices moved up, with Anglo ahead 168p to 4,225p. By Friday, the sector was falling back but it didn’t look like a selloff just for one company.
Anglo is still moving to refocus on copper, iron ore and crop nutrients. Reuters calls the miner a global group with its main copper mines at Quellaveco, Los Bronces, El Soldado and Collahuasi.
Anglo’s planned merger with Teck Resources is driving the strategy. Reuters said in September that the combined company would be a copper-heavy miner with a market value over $53 billion. Anglo shareholders would get 62.4%, with Teck holders getting 37.6%. Teck CEO Jonathan Price called it “a much larger and much better” copper, iron ore and zinc group. Reuters
Anglo CEO Duncan Wanblad pitched the deal as a way to push growth after shifting the company’s portfolio. In Anglo’s merger statement, Wanblad said Anglo and Teck are creating a “global critical minerals champion”. Critical minerals are materials viewed as key for energy, tech and industry supply chains. Anglo American
Balance sheet moves are in focus, too. Anglo on May 18 said it is selling its Australian steelmaking coal mines to Dhilmar for as much as $3.88 billion. That includes $2.3 billion in cash up front. The company said the money will go to pay down debt. “Through this transaction, we will complete our exit from steelmaking coal,” Wanblad said. Reuters
Anglo American doesn’t have a new production figure out for investors next week. The nearest scheduled update is the Q2 2026 production report on July 23 at 0600 GMT. Until then, traders will keep an eye on commodity moves, sector flows, and any signs of progress on the Teck deal.
Anglo shares could come under pressure again if copper drops, iron ore sentiment sours or the Teck deal drags, after running to a 52-week high. Friday’s move might just be a breather, not a turn. If copper steadies, the mood could shift fast. For now, the market has turned Anglo into a metals momentum play.
