United States Copper Index Fund

CPER

Market cap $245M

Anglo Asian Mining Plc (LSE:AAZ, OTC:AGXKF) told investors it has seen record quarterly copper production of 2,287 tonnes for the three months to 30 September 2025, a 250% increase on the prior quarter following first output from the Demirli mine and a full quarter from its operations at Gilar. Gold production, meanwhile, rose to 6,798 ounces and silver to 41,605 ounces.

Copper prices are up this year but they've lagged the spike in gold and other precious metals. That may soon change.

Ecora Resources PLC (LSE:ECOR, TSX:ECOR, OTCQX:ECRAF) has edged closer to a long-awaited payday from its stake in the Santo Domingo copper project, after Capstone Copper confirmed a $360m investment from Orion Resource Partners for a 25% holding. RBC calls the move a “key milestone” towards a construction decision expected in the second half of 2026, with project financing and detailed engineering now the next steps.

Trafigura Chief Economist Saad Rahim discusses the copper markets and says there's a risk of pullback in prices as investment in AI infrastructure wanes. "The AI story is the future, but it's not yet the present," Rahim tells Bloomberg Television.

London Metal Exchange CEO Matt Chamberlain tells CNBC that there is a medium term demand driver for copper, but that most of the recent price action has been driven by the supply side.

The dramatic price increase in the copper market is not as dire as it seems.  The copper prices dropped about $500 per ton on Friday after US President Donald Trump threatened to impose additional tariffs of 100% on China, starting next month.

Copper may not glitter like gold, but right now it's the metal with the best story in town. A series of mine disruptions, most notably at Grasberg in Indonesia, has flipped the copper market from surplus to deficit, according to new forecasts from JPMorgan's commodities team.

Copper's long-promised squeeze has finally arrived, according to Deutsche Bank. The German bank says the global copper market has flipped into deficit sooner than expected, driven by production setbacks at key mines including Grasberg in Indonesia.

Northstar Gold Corp. (CSE:NSG) announced that it has signed a Surgical Mining Services Agreement with Novamera to deploy Novamera's patented Turnkey Surgical Mining technology at the Cam Copper Project, located 18 kilometres southeast of Kirkland Lake, Ontario. "Executing this agreement with Novamera marks a key milestone in our effort to apply Surgical Mining to provide a low-impact, cost-effective path to evaluate and potentially extract high-grade copper at Cam Copper,” Northstar CEO Brian Fowler said in a statement.

The global copper market is going from surplus to shortage, according to the latest International Copper Study Group (ICSG) report. The 178,000-ton surplus projected for 2025 could flip to a 150,000-ton deficit as supply struggles to keep pace with demand.