Copper Nears $14,000 as Aluminum Hits a Four-Year High

IBOV

170,331

▼ 2.22%

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10,425

▲ 0.62%

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67,265

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5.06

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17.29

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896.34

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3,564

▼ 0.65%

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3.40

▼ 0.10%

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1,438

▼ 0.10%

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40.36

▲ 1.76%

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6,037

▲ 1.68%

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6.86

▲ 1.82%

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57.93

▲ 0.40%

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456.90

▲ 3.01%

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7.62

▲ 2.22%

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26.64

▲ 0.49%

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36.62

▲ 0.34%

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558.97

▼ 0.13%

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1.00

▲ 2.20%

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2.00

▲ 1.64%

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156.87

▲ 0.72%

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6.66

▲ 0.15%

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5.89

▲ 0.97%

BRENT

94.70

▼ 3.18%

WTI

92.27

▼ 3.91%

IRON ORE

161.91

— —

COPPER

6.54

▲ 0.91%

GOLD

4,509

▲ 1.64%

SILVER

74.13

▲ 0.89%

SOY

1,124

▼ 2.64%

CORN

422.75

▼ 2.03%

WHEAT

581.00

▼ 1.06%

COFFEE

247.60

▼ 2.17%

SUGAR

14.29

▲ 0.35%

ORANGE JUICE

164.10

▼ 2.55%

COTTON

74.36

▼ 3.09%

COCOA

3,937

▼ 3.32%

BEEF

241.83

▼ 1.95%

CATTLE

353.28

▲ 3.11%

LITHIUM

83.22

▼ 1.93%

PETR4

41.25

▼ 0.77%

VALE3

81.79

▼ 3.78%

ITUB4

38.72

▼ 2.12%

BBDC4

17.37

▼ 2.14%

ABEV3

16.07

▼ 2.31%

BBAS3

19.53

▼ 1.81%

B3SA3

15.52

▼ 4.67%

WEGE3

41.78

▼ 0.52%

PRIO3

62.59

▲ 0.98%

SUZB3

41.22

▲ 1.95%

RENT3

40.44

▼ 3.32%

AZZA3

17.38

▼ 8.48%

CSAN3

3.58

▼ 7.73%

RAIZ4

0.39

▲ 2.63%

PCAR3

1.54

▼ 1.91%

GMAT3

4.20

▼ 0.24%

PSSA3

48.16

▼ 1.19%

CVCB3

1.48

▼ 3.90%

POSI3

3.75

▼ 7.64%

SLCE3

14.98

▼ 2.03%

NATU3

9.80

▼ 0.61%

BRKM5

9.43

▼ 5.79%

RANI3

7.90

▲ 0.51%

CSNA3

6.68

▼ 6.31%

CMIN3

4.50

▼ 5.86%

USIM5

11.46

▼ 4.82%

GGBR4

24.13

▼ 2.11%

ENEV3

24.23

▼ 4.42%

NEOE3

33.80

— 0.00%

CPFE3

43.30

▼ 0.46%

CMIG4

10.86

▼ 1.27%

EQTL3

39.81

▲ 1.89%

LREN3

14.64

▼ 5.67%

VIVT3

33.75

▼ 0.15%

RAIL3

13.89

▼ 2.11%

KLABIN

16.76

▼ 0.89%

RAIA DROGASIL

17.51

▼ 3.26%

RDOR3

33.11

▼ 3.33%

HAPV3

11.22

▼ 8.26%

FLRY3

14.70

▼ 4.11%

SMTO3

17.30

▼ 1.14%

UGPA3

24.92

▼ 3.07%

VBBR3

29.48

▼ 2.16%

BBSE3

35.04

▼ 0.26%

BPAC11

50.71

▼ 4.77%

CURY3

29.45

▼ 6.00%

AERI3

2.31

▼ 1.28%

VIVARA

20.50

▼ 4.21%

COMPASS

25.79

▼ 2.68%

VAMOS

2.94

▼ 1.01%

SANB11

26.72

▼ 2.34%

ASAI3

8.79

▼ 2.87%

SBSP3

27.23

▼ 1.66%

WALMEX

51.46

▼ 1.36%

GMEXICO

208.05

▼ 2.79%

FEMSA

211.72

▼ 0.04%

CEMEX

22.31

▼ 0.62%

GFNORTE

179.50

▼ 0.66%

BIMBO

56.93

▼ 2.48%

TELEVISA

9.25

▲ 2.32%

AMX

21.88

▼ 1.44%

GAP

411.76

▼ 1.61%

ASUR

293.77

▼ 1.01%

OMA

217.18

▼ 1.13%

KOF

184.91

▼ 1.14%

GRUMA

293.00

▼ 0.48%

KIMBER

37.71

▼ 1.00%

SQM-B

70,000

▼ 1.41%

COPEC

6,240

▲ 2.29%

BSANTANDER

69.39

▲ 1.89%

FALABELLA

5,565

▲ 2.11%

ENELAM

76.51

▼ 0.34%

CENCOSUD

2,190

▲ 1.02%

CMPC

1,049

▲ 2.06%

BANCO CHILE

167.46

▲ 2.12%

LATAM AIR

22.43

▲ 0.63%

YPF

83,550

▲ 0.60%

GGAL

7,440

▲ 1.22%

PAMPA

5,115

— 0.00%

TXAR

687.00

▲ 1.40%

ALUAR

1,010

▼ 0.49%

TGS

9,270

▲ 0.71%

CEPU

2,286

▼ 1.00%

MIRGOR

16,950

▲ 0.15%

COME

48.39

▲ 1.00%

LOMA NEGRA

3,480

▲ 0.80%

BYMA

294.25

▲ 0.43%

TELECOM ARG

4,038

▼ 0.37%

ECOPETROL

15.36

▼ 1.41%

BANCOLOMBIA

72.38

▲ 0.18%

GRUPO AVAL

4.94

▼ 0.80%

CREDICORP

330.00

▲ 0.79%

SOUTHERN COPPER

192.29

▼ 2.19%

BUENAVENTURA

34.65

▲ 2.32%

MERCADOLIBRE

1,639

▲ 0.05%

NUBANK

12.00

▲ 3.05%

XP

15.74

▲ 0.87%

PAGSEGURO

8.78

▲ 0.11%

STONE

10.70

▲ 0.52%

GLOBANT

39.39

▼ 0.72%

TECNOGLASS

42.13

▼ 0.53%

GAP AIRPORT

237.93

▼ 1.16%

ASUR

293.77

▼ 1.01%

OMA AIRPORT

100.41

▼ 0.76%

AMX ADR

25.29

▼ 0.98%

FEMSA ADR

122.55

▲ 0.61%

CEMEX ADR

12.89

▼ 0.08%

PETROBRAS ADR

18.10

▼ 0.52%

VALE ADR

15.87

▼ 1.21%

ITAU ADR

7.70

▲ 1.38%

SANTANDER BR

5.36

▲ 1.04%

AMBEV ADR

3.12

▼ 0.64%

CSN

1.30

▼ 1.15%

GERDAU

4.77

▲ 0.32%

LATAM ADR

49.75

▲ 0.07%

BTC

63,500

▼ 0.80%

ETH

1,770

▼ 2.29%

SOL

69.57

▼ 2.85%

XRP

1.17

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BNB

603.73

▼ 2.64%

ADA

0.19

▼ 6.16%

DOGE

0.09

▼ 2.26%

AVAX

7.77

▼ 3.48%

LINK

8.05

▼ 3.37%

DOT

1.07

▼ 3.31%

LTC

46.37

▼ 1.64%

BCH

246.66

▲ 1.60%

TRX

0.33

▼ 0.78%

XLM

0.21

▼ 1.15%

HBAR

0.09

▲ 0.47%

NEAR

2.44

▼ 13.29%

ATOM

1.84

▼ 0.89%

AAVE

72.14

▼ 3.06%

SELIC

14.50%

—

EMBRAER

69.67

▼ 3.17%

EMBRAER ADR

56.59

▲ 2.52%

JBS

12.12

▲ 1.98%

JBS BDR

59.90

▼ 1.17%

MBRF3

15.78

▼ 0.44%

MBRFY

3.06

— 0.00%

INTER

5.74

▼ 1.12%

EGX

52,653

▲ 0.17%

USD/ZAR

16.30

▼ 0.14%

USD/NGN

1,358

▲ 0.06%

NIKKEI

67,471

▼ 1.36%

CSI300

4,905

▼ 0.69%

HSI

25,253

▼ 1.48%

NIFTY

23,417

▲ 0.05%

KOSPI

8,639

▼ 1.84%

JCI

5,840

▼ 1.70%

USD/JPY

159.99

— 0.00%

USD/CNY

6.7730

▲ 0.06%

DAX

24,945

▲ 0.60%

CAC

8,244

▲ 1.15%

FTSE

10,360

▲ 0.27%

MIB

50,174

▲ 0.27%

IBEX

18,276

▲ 0.55%

STOXX

624.45

▲ 0.52%

EUR/USD

1.1624

▲ 0.19%

GBP/USD

1.3432

▲ 0.08%

SPX

7,582

▲ 0.38%

DJI

51,515

▲ 1.63%

NDX

30,423

▼ 0.48%

RUT

2,931

▲ 1.29%

TSX

35,207

▲ 1.17%

VIX

15.45

▼ 3.80%

USD/CAD

1.3898

▲ 0.04%

US10Y

4.4690

▼ 0.49%

IBOV

170,331

▼ 2.22%

IPSA

10,425

▲ 0.62%

IPC MEX

67,265

▼ 1.50%

MERVAL

3,192,725

▲ 0.90%

COLCAP

2,238.99

▼ 1.13%

BVL PERÚ

34,836.62

▲ 0.71%

USD/BRL

5.06

▼ 0.03%

USD/MXN

17.29

▼ 0.28%

USD/CLP

896.34

▲ 0.07%

USD/COP

3,564

▼ 0.65%

USD/PEN

3.40

▼ 0.10%

USD/ARS

1,438

▼ 0.10%

USD/UYU

40.36

▲ 1.76%

USD/PYG

6,037

▲ 1.68%

USD/BOB

6.86

▲ 1.82%

USD/DOP

57.93

▲ 0.40%

USD/CRC

456.90

▲ 3.01%

USD/GTQ

7.62

▲ 2.22%

USD/HNL

26.64

▲ 0.49%

USD/NIO

36.62

▲ 0.34%

USD/VES

558.97

▼ 0.13%

USD/PAB

1.00

▲ 2.20%

USD/BZD

2.00

▲ 1.64%

USD/JMD

156.87

▲ 0.72%

USD/TTD

6.66

▲ 0.15%

EUR/BRL

5.89

▲ 0.97%

BRENT

94.70

▼ 3.18%

WTI

92.27

▼ 3.91%

IRON ORE

161.91

— —

COPPER

6.54

▲ 0.91%

GOLD

4,509

▲ 1.64%

SILVER

74.13

▲ 0.89%

SOY

1,124

▼ 2.64%

CORN

422.75

▼ 2.03%

WHEAT

581.00

▼ 1.06%

COFFEE

247.60

▼ 2.17%

SUGAR

14.29

▲ 0.35%

ORANGE JUICE

164.10

▼ 2.55%

COTTON

74.36

▼ 3.09%

COCOA

3,937

▼ 3.32%

BEEF

241.83

▼ 1.95%

CATTLE

353.28

▲ 3.11%

LITHIUM

83.22

▼ 1.93%

PETR4

41.25

▼ 0.77%

VALE3

81.79

▼ 3.78%

ITUB4

38.72

▼ 2.12%

BBDC4

17.37

▼ 2.14%

ABEV3

16.07

▼ 2.31%

BBAS3

19.53

▼ 1.81%

B3SA3

15.52

▼ 4.67%

WEGE3

41.78

▼ 0.52%

PRIO3

62.59

▲ 0.98%

SUZB3

41.22

▲ 1.95%

RENT3

40.44

▼ 3.32%

AZZA3

17.38

▼ 8.48%

CSAN3

3.58

▼ 7.73%

RAIZ4

0.39

▲ 2.63%

PCAR3

1.54

▼ 1.91%

GMAT3

4.20

▼ 0.24%

PSSA3

48.16

▼ 1.19%

CVCB3

1.48

▼ 3.90%

POSI3

3.75

▼ 7.64%

SLCE3

14.98

▼ 2.03%

NATU3

9.80

▼ 0.61%

BRKM5

9.43

▼ 5.79%

RANI3

7.90

▲ 0.51%

CSNA3

6.68

▼ 6.31%

CMIN3

4.50

▼ 5.86%

USIM5

11.46

▼ 4.82%

GGBR4

24.13

▼ 2.11%

ENEV3

24.23

▼ 4.42%

NEOE3

33.80

— 0.00%

CPFE3

43.30

▼ 0.46%

CMIG4

10.86

▼ 1.27%

EQTL3

39.81

▲ 1.89%

LREN3

14.64

▼ 5.67%

VIVT3

33.75

▼ 0.15%

RAIL3

13.89

▼ 2.11%

KLABIN

16.76

▼ 0.89%

RAIA DROGASIL

17.51

▼ 3.26%

RDOR3

33.11

▼ 3.33%

HAPV3

11.22

▼ 8.26%

FLRY3

14.70

▼ 4.11%

SMTO3

17.30

▼ 1.14%

UGPA3

24.92

▼ 3.07%

VBBR3

29.48

▼ 2.16%

BBSE3

35.04

▼ 0.26%

BPAC11

50.71

▼ 4.77%

CURY3

29.45

▼ 6.00%

AERI3

2.31

▼ 1.28%

VIVARA

20.50

▼ 4.21%

COMPASS

25.79

▼ 2.68%

VAMOS

2.94

▼ 1.01%

SANB11

26.72

▼ 2.34%

ASAI3

8.79

▼ 2.87%

SBSP3

27.23

▼ 1.66%

WALMEX

51.46

▼ 1.36%

GMEXICO

208.05

▼ 2.79%

FEMSA

211.72

▼ 0.04%

CEMEX

22.31

▼ 0.62%

GFNORTE

179.50

▼ 0.66%

BIMBO

56.93

▼ 2.48%

TELEVISA

9.25

▲ 2.32%

AMX

21.88

▼ 1.44%

GAP

411.76

▼ 1.61%

ASUR

293.77

▼ 1.01%

OMA

217.18

▼ 1.13%

KOF

184.91

▼ 1.14%

GRUMA

293.00

▼ 0.48%

KIMBER

37.71

▼ 1.00%

SQM-B

70,000

▼ 1.41%

COPEC

6,240

▲ 2.29%

BSANTANDER

69.39

▲ 1.89%

FALABELLA

5,565

▲ 2.11%

ENELAM

76.51

▼ 0.34%

CENCOSUD

2,190

▲ 1.02%

CMPC

1,049

▲ 2.06%

BANCO CHILE

167.46

▲ 2.12%

LATAM AIR

22.43

▲ 0.63%

YPF

83,550

▲ 0.60%

GGAL

7,440

▲ 1.22%

PAMPA

5,115

— 0.00%

TXAR

687.00

▲ 1.40%

ALUAR

1,010

▼ 0.49%

TGS

9,270

▲ 0.71%

CEPU

2,286

▼ 1.00%

MIRGOR

16,950

▲ 0.15%

COME

48.39

▲ 1.00%

LOMA NEGRA

3,480

▲ 0.80%

BYMA

294.25

▲ 0.43%

TELECOM ARG

4,038

▼ 0.37%

ECOPETROL

15.36

▼ 1.41%

BANCOLOMBIA

72.38

▲ 0.18%

GRUPO AVAL

4.94

▼ 0.80%

CREDICORP

330.00

▲ 0.79%

SOUTHERN COPPER

192.29

▼ 2.19%

BUENAVENTURA

34.65

▲ 2.32%

MERCADOLIBRE

1,639

▲ 0.05%

NUBANK

12.00

▲ 3.05%

XP

15.74

▲ 0.87%

PAGSEGURO

8.78

▲ 0.11%

STONE

10.70

▲ 0.52%

GLOBANT

39.39

▼ 0.72%

TECNOGLASS

42.13

▼ 0.53%

GAP AIRPORT

237.93

▼ 1.16%

ASUR

293.77

▼ 1.01%

OMA AIRPORT

100.41

▼ 0.76%

AMX ADR

25.29

▼ 0.98%

FEMSA ADR

122.55

▲ 0.61%

CEMEX ADR

12.89

▼ 0.08%

PETROBRAS ADR

18.10

▼ 0.52%

VALE ADR

15.87

▼ 1.21%

ITAU ADR

7.70

▲ 1.38%

SANTANDER BR

5.36

▲ 1.04%

AMBEV ADR

3.12

▼ 0.64%

CSN

1.30

▼ 1.15%

GERDAU

4.77

▲ 0.32%

LATAM ADR

49.75

▲ 0.07%

BTC

63,500

▼ 0.80%

ETH

1,770

▼ 2.29%

SOL

69.57

▼ 2.85%

XRP

1.17

▼ 2.30%

BNB

603.73

▼ 2.64%

ADA

0.19

▼ 6.16%

DOGE

0.09

▼ 2.26%

AVAX

7.77

▼ 3.48%

LINK

8.05

▼ 3.37%

DOT

1.07

▼ 3.31%

LTC

46.37

▼ 1.64%

BCH

246.66

▲ 1.60%

TRX

0.33

▼ 0.78%

XLM

0.21

▼ 1.15%

HBAR

0.09

▲ 0.47%

NEAR

2.44

▼ 13.29%

ATOM

1.84

▼ 0.89%

AAVE

72.14

▼ 3.06%

SELIC

14.50%

—

EMBRAER

69.67

▼ 3.17%

EMBRAER ADR

56.59

▲ 2.52%

JBS

12.12

▲ 1.98%

JBS BDR

59.90

▼ 1.17%

MBRF3

15.78

▼ 0.44%

MBRFY

3.06

— 0.00%

INTER

5.74

▼ 1.12%

EGX

52,653

▲ 0.17%

USD/ZAR

16.30

▼ 0.14%

USD/NGN

1,358

▲ 0.06%

NIKKEI

67,471

▼ 1.36%

CSI300

4,905

▼ 0.69%

HSI

25,253

▼ 1.48%

NIFTY

23,417

▲ 0.05%

KOSPI

8,639

▼ 1.84%

JCI

5,840

▼ 1.70%

USD/JPY

159.99

— 0.00%

USD/CNY

6.7730

▲ 0.06%

DAX

24,945

▲ 0.60%

CAC

8,244

▲ 1.15%

FTSE

10,360

▲ 0.27%

MIB

50,174

▲ 0.27%

IBEX

18,276

▲ 0.55%

STOXX

624.45

▲ 0.52%

EUR/USD

1.1624

▲ 0.19%

GBP/USD

1.3432

▲ 0.08%

SPX

7,582

▲ 0.38%

DJI

51,515

▲ 1.63%

NDX

30,423

▼ 0.48%

RUT

2,931

▲ 1.29%

TSX

35,207

▲ 1.17%

VIX

15.45

▼ 3.80%

USD/CAD

1.3898

▲ 0.04%

US10Y

4.4690

▼ 0.49%

Latin America · Markets

Key Facts

—The move: Copper climbed close to $14,000 a metric ton and aluminum hit its highest in more than four years.

—The drivers: Bets on tighter global supply, the unresolved Middle East conflict and demand tied to AI and the energy transition.

—The deadline: Traders are bracing for a U.S. tariff decision on copper, with a report due by June 30.

—The winners: Chile and Peru, the world’s top two copper producers, stand to gain from higher prices.

—The backdrop: Metals broadly have made a strong start to June on supply-tightness bets.

A rally in industrial metals is handing Latin America’s mining economies an unexpected tailwind, just as Washington prepares a decision that could scramble the copper market.

RTAsk Rio TimesAsk about Latin American markets, currencies, and companies — answered from our reporting and live data.Start asking →

Copper climbed toward $14,000 a metric ton and aluminum surged to its highest level in more than four years, as traders bet on tighter global supply and looked ahead to a pivotal U.S. tariff decision. The gains, which extended a strong start to June for industrial metals, are particularly consequential for Latin America, home to the world’s largest copper producers, for whom higher prices translate directly into export revenue and fiscal breathing room.

What is driving copper toward $14,000

Several forces are pushing prices higher at once. Aluminum supply is under strain partly because of the unresolved conflict in the Middle East, which has rattled energy and shipping, while copper traders are positioning ahead of a crunch decision by the Trump administration on import tariffs.

Underpinning both is structural demand from two fast-growing sources: the build-out of artificial-intelligence data centers, which require vast amounts of copper for power and cooling, and the broader energy transition, where copper is essential for grids, electric vehicles and renewable installations. That combination of near-term supply worry and long-term demand has made metals one of the standout trades of mid-2026.

The looming U.S. tariff decision

The wild card is U.S. trade policy. Washington has already imposed a 50% tariff on many copper-containing imports under its national-security framework, but the bigger question is whether it will extend duties to refined copper itself.

The Commerce Department must deliver a report to the president by June 30 recommending whether to impose a phased tariff, potentially 15%, on refined copper starting in 2027. The uncertainty has dislocated markets, widening the gap between U.S. and international prices and leaving traders to guess at the timing and scale of any measure.

For producers weighing where to ship metal, the decision could reshape trade flows for years.

Why it matters for Chile and Peru

For Latin America, the rally is a windfall. Chile is the world’s largest copper producer and Peru the second, and the metal is the backbone of both economies, funding government budgets and anchoring their currencies.

Higher prices lift export earnings, support the Chilean and Peruvian pesos and ease fiscal pressure at a moment when both countries face their own political and economic crosswinds. The benefit is not without risk: a U.S. tariff on refined copper could redirect flows away from the American market and dampen the price gains, and metals markets remain volatile, sensitive to any shift in the Middle East conflict or in expectations for global growth.

Still, with copper near record territory and demand structurally rising, the region’s mining heartlands are enjoying a rare moment of pricing power.

Frequently Asked Questions

How high have copper and aluminum gone?

Copper climbed close to $14,000 a metric ton and aluminum reached its highest level in more than four years on bets of tighter supply.

What is driving the rally?

Tighter supply, the Middle East conflict, a looming U.S. copper tariff decision, and structural demand from AI data centers and the energy transition.

What is the U.S. tariff decision?

The Commerce Department must report by June 30 on whether to impose a phased tariff, possibly 15%, on refined copper from 2027, beyond existing metal duties.

How does it affect Chile and Peru?

As the world’s top two copper producers, both gain export revenue and currency support from higher prices, though a U.S. tariff could redirect flows.