Chile Markets: IPSA & the Peso — July 11, 2026

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Key Facts

The peso strengthened to 923.90 per dollar, down 0.41% on the day and further off Wednesday’s seven-month high near $935.

S&P IPSA opened firmer, up 0.31% to 11,059.33 points, building on Thursday’s 0.72% advance to 11,025.36 that first reclaimed the 11,000 mark.

SQM-B was the busiest name on the board, falling 2.0% on turnover of $23 million even as the group’s own lithium price guidance held firm.

Copper edged up 0.33% to $6.24 a pound, capping a second straight weekly gain that traders say kept a floor under the peso and mining-linked shares.

Quinenco led gainers with a 4.0% jump, while Falabella (+0.9%) and Banco Santander Chile (+1.9%) also advanced as the rally broadened beyond miners.

Today’s Focus

Chile’s equity market pushed higher for a second straight session, with the S&P IPSA opening 0.31% firmer at 11,059.33 points after Thursday’s 0.72% climb to 11,025.36 first reclaimed the 11,000-point mark.

Copper did the heavy lifting again, ticking up 0.33% to $6.24 a pound in what is shaping up as a second consecutive weekly gain for the metal — support that flowed straight through to the Chilean peso, which firmed 0.41% to 923.90 per dollar.

SQM-B bucked the tape, dropping 2.0% on the day’s heaviest turnover of $23 million, even as the lithium major’s own 2026 price guidance of $15-18 a kilogram remains intact and its Codelco joint venture targets a jump in output.

Banks and retailers carried the broader advance instead, led by Quinenco’s 4.0% surge, with Banco Santander Chile and Falabella both firmer — a rotation away from the lithium story and toward domestic cyclicals.

What matters today. Copper’s resilience is doing more for Chile’s currency and index right now than the lithium trade that once drove it.

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01 The session in one read

Chile’s equity market pressed higher for a second straight session on July 10, with copper doing most of the work. In the first trades of the day, the S&P IPSA advanced 0.31% to 11,059.33 points, in line with the performance of European and Asian markets, as the market awaited Wall Street’s open.

That built on Thursday’s recovery, when the index climbed 0.72% to 11,025.36 points, having fallen 0.71% the prior Wednesday, to reclaim the 11,000-point mark. Copper itself rose to $6.24 a pound on the day, up 0.33% from Thursday.

That firmness fed straight into the currency: the peso strengthened 0.41% to 923.90 per dollar, extending its pullback from Wednesday’s close near $935, a level not seen since the Middle East conflict began. Against that, Wall Street’s steady grind — the S&P 500 ended up 0.42% at 7,575.39 — offered a mild global tailwind, though the real story in Santiago was domestic.

Assessment — Copper cushions Chile even as lithium cools MEDIUM

The evidence points to a market leaning on its oldest crutch: copper. The metal’s steadiness — up 0.33% on the day and on track for a second weekly gain — explains both the peso’s further firming to 923.90 and the index’s push back above 11,000, while SQM-B’s 2% slide on the heaviest turnover of the session suggests investors are taking profits in lithium rather than abandoning it, given the miner’s own unchanged $15-18/kg guidance and the Codelco venture’s expansion plans. Confidence is medium because Friday’s precise closing print for the IPSA itself was not independently confirmed by deadline — watch whether the index holds the 11,000 handle into next week’s close.

02 The day’s numbers

Measure

Level

Change

Read

S&P IPSA

11,059.33 pts (open)

+0.31%

Extended Thursday’s move above 11,000; full close unconfirmed at deadline

USD/CLP (peso)

923.90

−0.41%

Further off Wednesday’s 7-month high near $935; 52-week range 851.67–975.23

Chile equities (ECH proxy)

40.20

+0.70%

US-listed proxy read; 13.8% below its 52-week high of 46.63

Copper (ref.)

$6.24/lb

+0.33%

Macro anchor for both the index and the peso

S&P 500 (global read)

7,575.39

+0.42%

Backdrop tailwind, not the local driver

The cleanest read of the day sits in the peso and copper rows: both moved in the same direction, and both point to a market still taking its cues from the metal rather than from local politics or

Live Market IntelligenceChile — Live Market BoardInside: market breadth, the sector heatmap, currencies & rates, the Latin America scoreboard and the full instrument board.

Rio Times · Live Market Intelligence

Chile — Live Market Board

Santiago

Jul 11, 2026 · 02:49

S&P IPSA · benchmark

11,057

+0.28%

L 10,961day rangeH 11,063

Market breadth · 11 names

73% advancing

8 ▲ advancing3 declining ▼

Currencies, rates & key inputs

USD / CLP

923.90

-0.41%

Copper

6.29

+1.13%

Gold

4,129

-0.04%

Sector heatmap · average move today

Energy

+1.98%

COPEC

Financials

+1.48%

BSANTANDER, BANCO CHILE

Utilities

+1.47%

ENELAM

Other

+0.97%

COPPER, SOUTHERN COPPER

Consumer Disc.

+0.92%

FALABELLA

Materials

-0.32%

SQM-B, CMPC

Industrials

-0.53%

LATAM AIR

Consumer Staples

-0.55%

CENCOSUD

Latin America scoreboard

IndexLastTodayStrength

IbovespaBrazil

177,866

+2.97%

S&P/BMV IPCMexico

66,496

+0.59%

S&P IPSAChile

11,057

+0.28%

S&P MERVALArgentina

3,280,224

+2.43%

MSCI COLCAPColombia

2,307.67

+0.65%

BVL S&P PerúPeru

56,194.27

+1.29%

Full instrument board

InstrumentLastChangeYoYPrev.HighLowVolume

IPSA

11,057

+0.28%

—

11,025

11,063

10,961

788,260,529

USD/CLP

923.90

-0.41%

-2.64%

927.69

927.24

921.96

—

COPPER

6.29

+1.13%

+13.00%

6.22

6.33

6.24

28,887

SQM-B

67,750

-1.95%

+81.88%

69,100

69,046

67,201

317,555

COPEC

6,139

+1.98%

-2.71%

6,020

6,139

5,924

593,229

BSANTANDER

79.00

+1.94%

+35.32%

77.50

79.07

77.60

75,812,238

FALABELLA

5,905

+0.92%

+20.68%

5,851

5,993

5,812

1,757,694

ENELAM

85.40

+1.47%

-7.18%

84.16

85.50

84.44

13,538,927

CENCOSUD

2,045

-0.55%

-34.78%

2,057

2,075

2,021

3,625,075

CMPC

1,109

+1.32%

-19.93%

1,095

1,128

1,097

2,083,746

BANCO CHILE

188.88

+1.01%

+35.42%

187.00

189.94

187.22

48,860,646

LATAM AIR

26.26

-0.53%

+30.52%

26.40

26.68

26.03

535,504,986

SOUTHERN COPPER

175.83

+0.80%

+79.36%

174.43

177.12

173.06

779,481

Largest moves today

COPEC

6,139

+1.98%

SQM-B

67,750

-1.95%

BSANTANDER

79.00

+1.94%

ENELAM

85.40

+1.47%

CMPC

1,109

+1.32%

COPPER

6.29

+1.13%

BANCO CHILE

188.88

+1.01%

FALABELLA

5,905

+0.92%

The session read

The S&P IPSA rose 0.28%, with breadth positive — 8 of 11 names higher. Energy led, while Consumer Staples lagged.

Background: Chilean Stocks Hold Their Ground as the Copper Trade Steadies.

Background: BHP Files to Reopen an Idled Chile Copper Mine on Recycled Water.

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