Copper Closes up 0.83% as Chile, Peru Anchor Demand
Copper, tracked by CPER at US$40.00, gained 0.83% on Monday, August 31. Chile and Peru supply one-quarter of the world, while China's energy-transition demand k The post Copper Closes up 0.83% as Chile, Peru Anchor Demand appeared first on The Rio Times .
Copper prices rose 0.83% on Monday, August 31, led by Chile and Peru anchoring market demand. The futures-tracking fund CPER closed at US$40.00, marking a strong August performance for the industrial metal. Chile, the world's largest copper producer, supplied around 5.3 million tonnes in 2025, accounting for nearly a quarter of total global production.
Peru, the second-largest producer, reinforced Latin America's role through large-scale operations operated or partly owned by Southern Copper, Freeport-McMoRan, and BHP. China's demand for refined copper, driven by construction, manufacturing, electric vehicles, grid upgrades, and renewable energy, remains the primary price driver.
Investors were pricing in sustained Chinese buying and electrification spending worldwide, following the trend in 2025 when copper prices increased by about 14% compared to 2024. The combination of Andean supply dominance and Chinese energy-transition demand kept copper prices firm, with futures rather than spot prices determining portfolio returns.
Copper closed Monday at US$40.00, up 0.83% for the day. However, the gains in the copper-tracking fund CPER did not translate into strong performance for the two biggest copper miners, Southern Copper and Freeport-McMoRan, which both closed lower despite the positive trend in the copper-tracking fund. The divergence between futures strength and miner share weakness indicated that investors were booking gains in mining shares after a strong run for the sector.
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