Copper price falls for third day as US inflation shock, easing Chile strike risk spur selloff. Casting machines pouring molten copper into moulds. (Stock Image.) Copper dropped to its lowest in 10 days on Thursday as hotter-than-expected US inflation revived talk of another Federal Reserve rate hike, a rout in Asian chip stocks spread to the metals complex and a deal at Escondida took the most immediate supply risk off the table. Comex copper for December delivery fell 1.2% to $6.5810 a pound (about $14,508 a tonne) by late morning in New York, after trading as low as $6.5245 earlier in the session. The most-active contract is now 4.5% below the record settlement of $6.89 set on September 9 and heading for a third straight daily loss, the longest losing streak since June. In London, three-month copper eased 0.9% to $14,360 a tonne in official trading after touching $14,289, the weakest since October 5. Cash copper settled at $14,751 on Wednesday, $116 over the three-month price, and LME inventories have fallen to 228,000 tonnes, down 8% since the start of the month. The most-traded contract on the Shanghai Futures Exchange lost 1.9% to 108,940 yuan ($16,276) a tonne. "Two things are happening at the same time: the easing worries of supply and the strong inflation report," Ole Hansen, head of commodity strategy at Saxo Bank, told Reuters. "That was too much for the market to chew in one go and some profit-taking is emerging." The technical picture is deteriorating too, Hansen said, with copper challenging an uptrend that began in March and edging below its 50-day moving average. US consumer prices accelerated in September at the fastest pace in five months, Wednesday's data showed, putting a rate hike later this month back on the table and lifting the Bloomberg Dollar Index to its highest since May 2025. Higher rates hurt metals twice over, by cooling demand and raising the cost of carrying inventory, and the market was already nervous about the other pillar of this year's rally. South Korea's Kospi fell almost 8% on Thursday, dropping into a bear market as investors questioned how long the artificial intelligence spending boom can last, and the memory-chip selloff that began earlier in the week spread across Asian tech. "For copper, it's a double whammy of the AI trade coming under pressure from the sell-off in chip stocks, and the impact of rising Fed rate hike odds," Kyle Rodda, senior financial market analyst at Capital.com, told Reuters. Sucden Financial expects "the firm dollar and renewed rate pressure to keep the complex defensive, with copper's remaining supply risks offering only very limited support," its analysts wrote in a note. Escondida signs, Antofagasta stalls. Those supply risks shrank on Wednesday afternoon, when supervisors at BHP's Escondida in Chile ratified the agreement their union had struck with the company hours earlier, removing the threat of a stoppage at the world's largest copper mine. Unionized workers at Antofagasta's Centinela remain on strike, and the open pit at Codelco's El Teniente is still shut after last week's landslide, but the 5% of Chilean output that GEM Mining Consulting rated at risk a week ago has narrowed considerably. Antofagasta itself reported a 7% rise in third-quarter copper production and held its 2026 guidance of 625,000 to 655,000 tonnes despite the Centinela strike, but it was the year after that spooked investors. The company now expects 630,000 to 690,000 tonnes in 2027, below its original 650,000 to 700,000 tonnes and short of BMO Capital Markets' 703,000-tonne estimate, and lifted its cash cost guidance on higher diesel prices. The outlook "implies no growth on the original guidance for 2026," RBC analysts wrote, despite better grades at Los Pelambres and the Centinela expansion coming on stream. Tariff odds fade with the spread. The selloff has also drained what was left of the tariff premium in the Comex curve. December copper in New York settled on Wednesday just $49 a tonne over the LME three-month official price, down from a gap of about $175 on Tuesday, and on Macquarie's arithmetic that puts the market-implied odds of a 15% import duty arriving on schedule in January at roughly 2%, against the 10% the bank read into the spread at the end of September. That is the "very binary" setup the bank described in its latest quarterly, in which a decision against a tariff would see the Comex price "collapse, taking the LME price with it" and surplus US stocks reappear in LME warehouses. Macquarie counts a 223,000-tonne surplus this year and surpluses above 700,000 tonnes a year from 2027, a view the International Copper Study Group broadly shares with its forecast of a 368,000-tonne surplus next year, while BMO argues that the near-2 million tonnes sitting in the United States is China's strategic reserve relocated rather than surplus, and has copper averaging $14,675 next year. Miners follow the metal lower. Copper producers fell with the metal on Thursday. Freeport-McMoRan dropped 2.4% to a $98 billion market value and Southern Copper 2.4% to $165 billion, with BHP down 1.4% at $213 billion, Rio Tinto 1.3% lower and First Quantum off 1.7%. Lundin Mining lost 1.0% and Ivanhoe Mines 1.5%, while Teck Resources, up 0.5%, was the only major copper producer in positive territory. Freeport has now shed 5.5% over the past week. Antofagasta was the day's casualty, down 6.4% to £33.40 in London for a market value of close to £33 billion, taking its loss over the past week to 10%. The stock is now flat for 2026, as is First Quantum, against gains of 41% for Southern Copper, 37% for Glencore, 36% for BHP and Teck, and 34% for Freeport. Polish state miner KGHM, up 2.4%, bucked the trend after the EU put its $2.4 billion of copper projects on a fast track last week. Comex copper is up about 17% in 2026. (With files from Reuters and Bloomberg) No comments found.

Top 10 Women in Mining in 2026. Mining has long been considered a male-dominated industry, but 2026 tells a different story. Across gold, copper, iron ore, diamonds and the technology that keeps mines running, women are leading some of the world's biggest operations, steering multi-billion-dollar projects, and shaping the industry's future in critical minerals and decarbonisation. From boardrooms in Johannesburg and Gaborone to head offices in Denver and Stockholm, these leaders are redefining what mining leadership looks like. At CA Mining today, we pride ourselves in making more and more female hires to meet our mining client's needs. We will now list ten women in mining who are making an outsized impact on the mining sector in 2026. 1. Natascha Viljoen, President & CEO, Newmont Corporation. South African metallurgical engineer Natascha Viljoen took the helm of Newmont Corporation on 1 January 2026, becoming the first woman to lead the world's largest gold producer in its 104-year history. She joined Newmont in 2023 as President and Chief Operating Officer after serving as the first female CEO of Anglo American Platinum (now Valterra Platinum), where she navigated volatile markets and safety challenges across deep-level operations. A second-generation miner with 30 years of international experience, Viljoen is now integrating Newmont's Newcrest assets while championing safety and modernisation across the group. 2. Mpumi Zikalala, CEO, Kumba Iron Ore. Mpumi Zikalala has led Kumba Iron Ore, Anglo American's South African subsidiary and the fifth-largest iron ore producer in the world, since January 2022. She began her mining career as a process engineer at De Beers in 2001, later rising to Deputy CEO of De Beers Consolidated Mines and Managing Director of De Beers Group Managed Operations. Under her leadership, Kumba has posted double-digit earnings growth while advancing its R11.2 billion ultra-high dense media separation plant at Sishen, extending the mine's life to 2041. 3. Marna Cloete, President & CEO, Ivanhoe Mines. Marna Cloete leads Ivanhoe Mines, the Canadian company behind some of Southern Africa's most significant recent mining developments. Under her leadership, Ivanhoe brought the Kamoa-Kakula Copper Complex in the Democratic Republic of Congo into production, now one of the world's highest-grade and fastest-growing copper mines, and guided the rehabilitation of the ultra-high-grade Kipushi zinc mine. She also continues to oversee the Platreef platinum-palladium-nickel project in South Africa. Beyond production milestones, Cloete spearheaded the Kamoa Centre of Excellence, a higher-education facility developed with the DRC government to build local technical skills for the next generation. 4. Kathleen Quirk, President & CEO, Freeport-McMoRan. Kathleen Quirk has spent more than three decades at Freeport-McMoRan, joining in 1989 and rising through Treasury, Investor Relations and Corporate Development before becoming Chief Financial Officer in 2003, President in 2021, and CEO in 2024. She now runs the world's largest publicly traded copper producer, including its landmark Grasberg Block Cave operation in Indonesia. Quirk was repeatedly named Best CFO in Metals and Mining during her finance tenure, and in 2025 she was inducted into the American Mining Hall of Fame for shaping Freeport's strategy through decades of industry cycles. 5. Helena Hedblom, President & CEO, Epiroc. Helena Hedblom took charge of Swedish equipment manufacturer Epiroc in 2020, just weeks before the pandemic upended global industry. Since then, she has pushed the company to the front of mining's shift toward automation and electrification, driving development of battery-electric vehicles and autonomous drilling rigs that are changing how mines operate underground. Hedblom is a leading voice behind the "zero-emission mine" concept, pressing operators worldwide to rethink their strategies around carbon-neutral targets. With 25 years across Atlas Copco and Epiroc, she has turned a heavy industrial business into one of the mining sector's clearest technology leaders. 6. Djaria Traore, EVP Operations & ESG, Endeavour Mining. Djaria Traore joined Endeavour Mining in 2019 as VP of Supply Chain and was promoted to Executive Vice President of Operations and ESG in 2024, drawing on more than two decades of mining experience across Guinea, Russia and West Africa. She led the team that delivered the Lafigué gold mine in Côte d'Ivoire on budget and ahead of schedule, the fifth mine Endeavour has built in the region in a decade. Traore has been recognised as one of the 100 Global Inspirational Women in Mining for her contribution to operational excellence and sustainability across Endeavour's West African portfolio. 7. Wilhemina Ngcobo, Acting Managing Director, Richards Bay Minerals. Wilhemina Ngcobo stepped up from Chief Operating Officer to Acting Managing Director of Richards Bay Minerals (RBM) in August 2026, taking the helm of Rio Tinto's mineral sands business in KwaZulu-Natal, South Africa. RBM is one of the world's largest producers of titanium feedstock, zircon and high-purity pig iron. Her appointment comes at a pivotal moment, as RBM executes a R8.5 billion expansion of its Zulti South project, extending the operation's life to 2050 after years of delay. Ngcobo's promotion reflects a broader push at RBM to rebuild operational stability and stakeholder trust. 8. Alison Atkinson, Chief Projects & Development Officer, Anglo American. Alison Atkinson joined Anglo American in 2023 after leading AWE plc, the UK body responsible for the country's nuclear defence programme, as CEO. As Chief Projects & Development Officer, she now leads Anglo American's global pipeline of major mining developments alongside its carbon and innovation strategy, including the FutureSmart Mining(TM) programme and renewable energy partnerships with Envusa Energy and EDF. A Fellow of the Royal Academy of Engineering, Atkinson has been named to the future executive leadership team of Anglo Teck, the company being formed through Anglo American's merger with Canada's Teck Resources. 9. Nolitha Fakude, chair, Anglo American South Africa. Nolitha Fakude chairs Anglo American's South African management board and is the immediate past President of the Minerals Council of South Africa, one of the industry's most influential advocacy positions. Over three decades across mining, oil and gas, retail and financial services, she has championed transformation and gender equity in South African mining, including leading industry conversations on gender-based violence in mining communities. In recognition of her contribution to the sector, Fakude received the Southern African Institute of Mining and Metallurgy's Brigadier Stokes Memorial Award, one of the highest honours in South African mining and metallurgy. 10. Serty Leburu, Managing Director, DTC Botswana. Serty Leburu was appointed Managing Director of the Diamond Trading Company Botswana in February 2026, becoming the first woman to lead the De Beers and Botswana government joint venture that sorts, values and sells diamonds from Debswana's mines. It is the latest in a career of firsts: Leburu was also the first female Finance Manager at Debswana Diamond Mines, the first female Deputy CEO at Standard Chartered Bank Botswana, and the first female Executive Director at Botswana Accountancy College, building a three-decade track record across finance, governance and strategy before taking on diamond trading's top job. These ten female leaders span gold, copper, iron ore, diamonds and the equipment that keeps mines running, operating from Denver to Gaborone. What they share is a track record of delivering major projects, building safer and more sustainable operations, and opening doors for the women coming up behind them. As mining companies compete harder than ever for skilled talent, lists like this are a reminder that the strongest candidate for the top job is increasingly a woman. Looking to hire more female leaders in your site? Contact us today. Head office. Ground Floor, Burg House, Belmont Park, Belmont Road, Rondebosch, Cape Town, South Africa, 7700 Quick links. Contact us. CA Mining.

Economy: copper hits new record! By: journalducoin.com | 2026/09/09 05:42:32 Trade global markets with WEEX: Crypto · Stocks · Gold · ETFs Start with 0.1 USDT Strike while the iron is hot, copper version. This is somewhat what traders have been doing for the past few weeks. Copper set a new record on Tuesday, September 9, at $14,674 per ton on the London Metal Exchange. The session shows an increase of 1.1%. The previous day's record is already falling. For the year, the industrial metal is up 18%. This surge is due to an escalating physical shortage and fears of new U.S. tariffs on imports. An industrial cousin of gold and bitcoin in the race for rare assets, except this one is weighed in tons and stored in warehouses rather than in a wallet. Key points of this article: * Copper has reached a new historical record on the London Metal Exchange, driven by a growing physical shortage and fears of U.S. tariffs. * Copper stocks in the United States have reached record levels, while reserves in other regions have drastically decreased, exacerbating global tension. Two markets for one metal. At the end of August, Comex stocks in New York peaked at 675,185 tons after 46 consecutive sessions of increases. LME reserves in London have fallen by nearly 40% since the end of May, while stocks on the Shanghai Exchange have melted by 85% since their mid-March peak. As a result, American importers brought in 885,000 tons of refined copper cathodes in the first half of the year, double their imports during the same period in 2024. In July alone, 225,094 tons of copper landed on American soil: an absolute monthly record. Physical copper continues to flow into the United States, exacerbating tension in markets outside the U.S., summarizes an analyst from Everbright Futures quoted by Business Recorder. Moreover, the market anticipates an expansion of U.S. tariffs on refined copper as early as next year, and importers are not waiting for the decision to act. The futures curve has shifted into backwardation (immediate delivery copper costs more than copper delivered in six months), a sign that immediate availability is worth its weight in gold. Additionally, global mining production is no longer keeping pace: analysts expect the first annual decline in extraction since 2017. And the gap has just widened suddenly. Indeed, Grasberg, in Indonesia, is the second-largest copper mine in the world. It was hit on September 8 by a mudslide that trapped workers underground, forcing operator Freeport-McMoRan to declare force majeure. Goldman Sachs estimates the total production loss at 525,000 tons, according to data relayed by Yahoo Finance, enough to shift its global balance for 2025 from a surplus of 105,000 tons to a deficit of 55,500 tons. The appetite of artificial intelligence already exceeds forecasts for copper. Just over a year ago, Goldman Sachs aimed for $10,750 per ton by 2027. The market has already doubled down, with eighteen months ahead of its own timeline. Why such a gap? Because structural demand is no longer coming solely from electrical cables and construction. Data centers for artificial intelligence and the great wave of electrification, from transportation to networks, are driving demand upwards at the very moment when mining supply is stalling. Even State Grid, the Chinese public electricity operator, is placing orders that local brokers consider solid. However, this surge remains primarily a phenomenon of stocks and tariff anticipation, not yet definitive proof of a structural shift in demand. But copper is already ticking almost all the boxes of a prolonged shortage. Sign price. 65.51% Past 30 days Sign is currently trading at 0.01122 USD. Over the past 30 days, Sign has risen 65.51%. Learn more about Sign. This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations. You may also like. Contents. 09/09/2026