Friday, June 5, 2026 · Covering Thursday June 4 session
Summary
The IPSA fell 0.54% to 10,304.04 on Thursday June 4, extending the soft run it has been in for the past couple of weeks. The market actually pushed higher early in the day but could not hold the gain, sliding back to close near its low and settling right on the floor it has been testing. After several down days, that floor is now the line that matters most.
The cause is the same one that always drives this market: copper. The metal makes up about half of Chile’s exports, so it sets the tone for the currency and the big mining companies that dominate the index, and the bounce in copper that had lifted Chile in late May has faded. Without that support the market has drifted lower, and Thursday took it down to the edge of its recent range.
It is not a rout, but the spot is delicate. The market is now sitting just above the longer-term line that has guided its climb, the level that separates a pullback from something more serious. Two homegrown supports could still turn it: President Kast’s planned cut to the business tax rate and a possible interest-rate cut from Chile’s central bank. For now, the market needs copper to steady before it can lift off this floor.
