Copper futures stabilized around $5 per pound on Thursday, poised to finish the week little changed as ongoing supply concerns supported prices. More than 30 people were recently killed at a semi-industrial copper mine in Congo after a bridge collapse, triggering investigations into the military’s role amid reports of clashes between miners and soldiers. Freeport-McMoRan also announced plans to resume production at Indonesia’s Grasberg mine by July 2026, after operations were halted in September when wet mud flooded one of the mines, killing seven workers. Copper prices may face headwinds, however, after the latest Fed minutes revealed divisions among policymakers over additional rate cuts, prompting traders to scale back expectations for a December move. Markets now see roughly a 33% chance of a 25 bps cut next month, down from over 90% a month ago.
