Copper Slips as Chile and Peru Supply Stays in Focus
Copper futures held above $6.40 but the CPER tracker slipped 0.21%. Chile and Peru supply, Fed hawkishness and energy transition demand frame the trade. The post Copper Slips as Chile and Peru Supply Stays in Focus appeared first on The Rio Times .
Copper prices edged higher on September 16, 2026, with front-month COMEX copper settling at US$6.4315 per pound, up 0.99%, while the CPER fund tracking copper futures fell 0.21% to US$38.59. The discrepancy between the two reflects the impact of different contract months and rolling costs. The session was influenced by supply concentration in Chile and Peru, which together account for about half of global copper production, along with a hawkish Federal Reserve's decision to raise rates by 0.25%.
Chile mines approximately 23% of the world's copper, while Peru accounts for about 11%. Gold also dropped to US$4,310 per ounce amid the Fed's hawkish stance. Despite the Fed's decision, copper prices held above US$6.40 per pound, indicating strong underlying demand. However, the CPER fund's decline suggests that futures roll costs can erode returns even when spot prices rise.
Investors should closely monitor China's post-stimulus copper demand to see if it can offset the negative impact of higher US rates.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
