Hindustan Zinc records highest ever mine production

Chilean miner Antofagasta said on Wednesday its copper production rose 11% to 314,900 metric tons in the first half of 2025, on higher production from its two concentrators.

The London-listed company left guidance for full-year copper output unchanged between 660,000 and 700,000 tons.

Source – Reuters

Copper prices in the U.S. have surged ahead of those in the rest of world and hit a record last week, a sign the mere threat of tariffs is lifting costs for domestic manufacturers.

Benchmark U.S. copper futures ended Monday at $5.02 a pound, up 26% this year. That compares with an 11% gain to $9,673 a metric ton, or about $4.39 a pound, on the London Metal Exchange, which is the global trading hub.

U.S. copper futures have been the top performer among major commodities in the first quarter. Prices for the industrial metal last week topped the record set in May but have since pulled back. Copper’s gains have outpaced the 21% rise in lumber futures, which was also fueled by uncertainty over tariffs.

Source – Wall Street Journal

The EV industry in China and the world is already booming; pumping copper’s status as “the new oil”. As such, the red metal is set to rise above the current uncertainties to record significant gains in the medium to long term.

Copper has also jumped above the 50-day moving average, while the Relative Strength Index (RSI) has continued rising. Therefore, it will likely rebound and retest the key support at $5 in the coming weeks.

Source – Invezz

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RSI (Relative Strength Index) – is a technical indicator intended to chart the current and historical strength or weakness of a stock or market based on the closing prices of a recent trading period.

Copper futures have pared losses and now sit roughly unchanged on the day at $4.25.

Source – Market Watch