Copper prices saw a temporary increase of nearly 5% following the announcement that Indonesia’s Grasberg mine had declared force majeure due to an accident. This reflects concerns about supply vulnerabilities, exacerbated by declining treatment and refining charges at smelters, which pointed to material shortages. According to the International Copper Study Group, mine production in the first seven months of the year has improved, with increases in Chile, Peru, and the Democratic Republic of Congo, though Indonesia’s output dropped by 32%. Global mine output rose by 3.4%, while metal production increased by 3.9% ... (full story)