Movement Alert|Southern Copper Rises 3.21% in Regular Trading, Global Copper Mine Supply Disruptions Persist as Goldman Sachs Cuts Supply Forecast

Market Focus
Jun 09

On June 9, Southern Copper rose 3.21% in regular trading, trading at $178.15/share, with trading volume of $40.17 million, as the copper sector strengthened broadly.

On the news front, global copper mine supply disruptions continue to intensify. Peru has issued an emergency decree due to an energy crisis, with major copper mine capacity being cut by approximately 20,000 tons per month due to power rationing. Meanwhile, Indonesia's Grasberg mine full resumption has been delayed to early 2028, expected to result in over 100,000 tons of reduced copper supply. Goldman Sachs has cut its global copper mine supply growth forecast by 350,000 tons, citing production incidents at the Grasberg mine and the Kamoa-Kakula mine in the DRC that have yet to recover to normal capacity levels. Analysts note the tight supply-demand imbalance remains unchanged, with Goldman Sachs estimating the copper supply gap outside the U.S. will widen to 640,000 tons.

Within the Copper sector, Freeport-McMoRan rose 2.89%, Taseko Mines rose 2.45%, and Ero Copper rose 1.75%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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