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2025.09.2904:24:02UTC+00Copper Rises on Supply Worries

Copper futures surged past $4.75 per pound on Monday, building on last week's gains, as supply disruptions bolstered prices. Freeport-McMoRan, which operates the Grasberg mine in Indonesia, declared force majeure on its contracted shipments following a tragic mudslide. This site contributes to 3% of the global copper supply. The company has indicated that a full recovery of output is improbable before 2027 and has reduced its quarterly copper and gold sales forecasts by 4% and 6%, respectively. This incident underscores the market's susceptibility to supply shocks, a situation further exacerbated by Hudbay Minerals halting operations at the Constancia mine in Peru due to ongoing protests. Prolonged disruptions raise the risk of escalating prices and could result in tighter conditions for smelters.

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