Copper Stocks Plummet...Teck Resources Loses 3.5 Trillion Won in Market Value in One Day

Canadian mining company Teck Resources Limited (TECK) closed at $61.67 on the New York Stock Exchange on June 5, plunging 8.34% on a trading volume of 2.29 million shares. In a single day, its market capitalization fell by roughly $2.29 billion (about KRW 3.5 trillion), bringing its current market cap to approximately $29.7 billion (around KRW 45 trillion).

In its first-quarter 2026 results, Teck Resources reported record copper sales and strong overall performance, reaffirmed its full-year guidance, and announced a dividend of $0.125 per share as of June 30. At the same time, the company is advancing a major merger with UK-based Anglo American, positioning it at the intersection of copper supercycle expectations and valuation pressures.

Headquartered in Vancouver, Canada, Teck Resources repositioned its portfolio around copper and zinc after selling its former flagship steelmaking coal business to a Glencore consortium for about $8.9 billion (roughly KRW 13 trillion). If the merger with Anglo American goes through, Teck would emerge as one of the world’s largest copper producers, well placed to benefit directly from growing demand in electric vehicles and renewable energy infrastructure.