Copper Hits Record in London as Chile, Peru Supply Bites

Key Facts

Futures tracked, not spot the United States Copper Index Fund, CPER, closed at US$39.95, up 0.10% on Friday, September 4, 2026.

Producers diverged Freeport-McMoRan added 0.23% to US$72.73 while Southern Copper fell 0.39% to US$198.76.

Supply giants under pressure Chile is the world’s largest copper producer and Peru the third-largest, making both Andean economies central to price risk.

China structural demand the country buys roughly half of the world’s refined copper for construction, manufacturing, infrastructure and grid investment.