Thursday, June 4, 2026 · Covering Wednesday June 3 session
Summary
The IPSA fell 1.04% to 10,359.94 on Wednesday June 3. The market opened at its high for the day and drifted lower from there, extending the soft stretch it has been in and slipping further from the levels it held earlier in the spring.
The reason comes down to one thing: copper. The metal makes up about half of Chile’s exports, so it drives the currency and the big mining companies that dominate the market, and the whole index tends to rise and fall with it. The recent bounce in copper that had lifted Chile in late May has faded, and without it the market has lost its main source of support.
It is not all gloomy underneath. The market is still above its longer-term upward trend, so this looks more like a pullback than a breakdown, and two homegrown supports remain: President Kast’s planned cut to the business tax rate, and the chance of an interest-rate cut from Chile’s central bank. For now, though, the market drifts until copper steadies.
