Movement Alert｜Southern Copper Rises 3.29% Overnight, Copper Sector Rallies on Persistent Global Supply Disruptions and COMEX Price Surge

Market Focus06-15

On June 15, Southern Copper rose 3.29% overnight, trading at $196.03/share, with turnover of $114,300. The copper sector strengthened broadly, with Freeport-McMoRan up 2.75%, Ero Copper up 4.46%, and Taseko Mines up 3.2%.

On the news front, multiple supply-side disruptions continue to tighten the global copper market. Peru declared an emergency decree amid its energy crisis, with major copper mines cutting approximately 20,000 tons of monthly capacity due to power rationing. Indonesia's Grasberg mine full restart has been delayed to early 2028, expected to reduce copper supply by over 100,000 tons. Goldman Sachs previously cut its global copper mine supply growth forecast by 350,000 tons, with institutions noting the supply-demand imbalance remains unresolved.

Meanwhile, COMEX July copper futures surged 2.71% on Friday to $6.445/lb, hitting a new high since June 4, with weekly gains of 2.67% marking the fifth weekly advance in six weeks. Optimism over a potential US-Iran ceasefire agreement and ongoing COMEX-LME price premiums driving copper shipments to the US further supported prices.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Optimism over a potential US-Iran ceasefire agreement and ongoing COMEX-LME price premiums driving copper shipments to the US further supported prices.</p><p>(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. 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