Movement Alert｜Southern Copper Rises 3.18% in Regular Trading, Global Copper Mine Supply Disruptions Continue to Support Price Recovery

Market Focus06-02

On June 2, Southern Copper rose 3.18% in regular trading, trading at $198.09/share, with trading volume of approximately $44.70 million, extending its recent rebound trajectory.

On the news front, global copper mine supply disruptions continue to intensify. Peru has issued an emergency decree due to an energy crisis, with major copper mines facing power rationing that reduces capacity by approximately 20,000 tons per month. Indonesia's Grasberg mine — the world's second-largest copper mine — has delayed full restart to early 2028, expected to reduce copper supply by over 100,000 tons. Institutions note that the tight supply-demand imbalance remains unchanged, with the global copper deficit estimated at 130,000 to 600,000 tons, and maintain a bullish outlook on copper prices.

The broader copper sector rallied in tandem, with Freeport-McMoRan up 3.62% and Taseko Mines up 1.39%. Southern Copper had previously surged to nearly $195 on record Q1 earnings before pulling back to around $167, and has now broken above its prior high, continuing its technical recovery.

(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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