Copper
Glencore will now begin a pre-feasibility study, with both parties targeting a finalized agreement in the first half of next year.
Zepeda urged the community to call 911 if they see someone stealing copper wire.
The proposed Sudbury Basin project, valued between $1.6 billion and $2 billion, could produce 880,000 metric tons of copper over 21 years, Vale said in a statement.
In early August, Queen accepted a shipment of specialty copper, which included “a little over $5,000” tariff bill for both American and reciprocal European tariffs.
Copper’s record-setting run is playing out against a shifting macro backdrop, with traders glued to fresh data from major economies.
Beyond the economic and operational toll, copper theft poses a genuine threat to national security.
Deutsche Bank lifted its 2026 copper price forecast to $10,600 per tonne.
Additionally, the start-up of large-scale projects such as the Mesaba in 2029 and Ann Mason in 2030 will significantly lift the U.S. copper production.
The bank said any price weakness should be short-lived and recommended remaining long copper or using volatility-selling strategies.
Chile, the world's top producer of copper mines, saw its production at essentially unchanged levels between January and September of 2025.
Copper is often called an economic barometer, and right now it’s showing mixed signals.
Cochilco anticipates a deficit of 165,000 tons in the global copper market by 2026.
Nickel fundamentals are showing signs of weakness these couple of weeks, traders said.
Structural changes emerged in the market: persistently high price differences between primary and secondary copper spurred arbitrage activities.
The bill has now been passed to President Donald Trump to be signed into law.
The exceptional rise in copper prices was triggered by a series of factors that dominated throughout 2024 and 2025.
Copper prices hit a record $11,188.50 per ton on the London Metal Exchange before retreating, as U.S. and China economic uncertainties and easing supply fears may limit further gains.
Analysts observed that Glencore is under pressure to match its peers’ aggressive growth plans.
AB 476 strengthens theft prevention and enforcement to help deter copper theft, protect vital infrastructure, and hold the scrap metal industry accountable with commonsense reforms
LME Week noted that copper has emerged as the standout performer in the entire base metal complex.
The world refined usage has increased nearly fourfold in the past five decades.
This is mainly on account of persistent supply disruptions and resilient industrial demand, it said.
It must be recalled that the output loss from El Teniente coupled with disruptions at Grasberg mine had tightened supplies, thus pushing copper prices closer to the record prices reached last year.
If signed, the bill will go into effect on Jan 1, 2026.
El Teniente produces about 400,000 metric tons of copper annually, making it one of the world’s key suppliers.