Copper Fund Gains 1.53% as Southern Copper Rises 0.77% | Copper, Oct 23
Key Facts
- The copper fund CPER rose 1.53% to US$39.06 on Friday, recovering part of Thursday’s 2.7% loss.
- Southern Copper rose 0.77% to US$185.01 and Freeport-McMoRan 0.91% to US$65.18.
- The broader copper-miners fund COPX was flat at US$73.09 (down 0.05%).
- The Chilean peso weakened 0.87% to 994.76 per dollar, and Chile’s exchange-traded fund fell 0.85%.
- US manufacturing activity beat forecasts: the S&P Global PMI was 56.0 against 55.5 expected.
Today’s Focus
Copper-linked funds recovered on Friday, 23 October, after a sharp fall on Thursday. The copper fund CPER rose 1.53% to US$39.06, while miners moved less.
Producers Southern Copper and Freeport-McMoRan both rose by less than 1%. The miners’ fund COPX ended almost unchanged.
What matters today. Copper bounced, but miners did not follow it all the way, which shows investors are still cautious.
01 The session in one read
The copper fund CPER, which holds copper futures traded in New York, closed at US$39.06, up 1.53%. It had fallen 2.7% on Thursday.
Southern Copper, which mines in Peru and Mexico, rose 0.77% to US$185.01. Freeport-McMoRan, a major US-based producer, gained 0.91% to US$65.18.
The miners’ fund COPX held at US$73.09, down 0.05%, so the metal moved more than the shares.
The rebound recovered about half of Thursday’s loss in the fund. The shares did not follow, which suggests investors want more evidence before buying.
US factory activity is strong, which supports demand for industrial metals. A firmer dollar and higher yields are the main headwinds.
02 The board
The CPER fund rose 1.53% to US$39.06. Southern Copper gained 0.77% to US$185.01 and Freeport-McMoRan 0.91% to US$65.18.
The miners’ fund COPX closed at US$73.09. Chile’s fund ECH fell 0.85% to US$36.00.
| Asset | Level | Change |
|---|---|---|
| Copper fund (CPER) | US$39.06 | +1.53% |
| Copper miners fund (COPX) | US$73.09 | −0.05% |
| Southern Copper (SCCO) | US$185.01 | +0.77% |
| Freeport-McMoRan (FCX) | US$65.18 | +0.91% |
| Chile fund (ECH) | US$36.00 | −0.85% |
Source: RT close, 2026-10-23. Where a commodity has no spot feed, an exchange-traded tracker or leading producer is shown as a labelled proxy.
Live Market IntelligenceThe live market board
Rio Times · Live Market Intelligence
Latin America — Cross-Market Board
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 205,082.56 | +0.47% | +21.85% | 204,120.12 | 168,310 | 167,142 | — |
| IPSA | 10,746.36 | -0.31% | — | 10,780.31 | 11,210 | 10,984 | 1,513,213,483 |
| IPC MEX | 69,678.08 | -0.30% | +12.17% | 69,889.73 | 66,121 | 65,405 | 108,886,187 |
| MERVAL | 3,017,221 | — | +30.51% | 3,022,485 | 3,042,365 | 2,991,150 | — |
| COLCAP | 2,540.10 | +0.46% | — | 9.04 | 9.05 | 9.02 | 4,133 |
| BVL PERÚ | 57,021.19 | +0.13% | — | — | — | — | — |
| USD/BRL | 5.16 | +0.01% | -5.13% | 5.16 | 5.18 | 5.14 | — |
| EUR/BRL | 5.95 | +1.01% | -5.83% | 5.89 | 5.98 | 5.94 | — |
| USD/MXN | 17.06 | -0.24% | -8.58% | 17.10 | 17.08 | 17.01 | — |
| USD/CLP | 913.98 | +0.04% | -5.67% | 913.65 | 915.11 | 906.68 | — |
| USD/COP | 3,140 | +0.03% | -22.04% | 3,139 | 3,141 | 3,105 | — |
| USD/PEN | 3.36 | -0.66% | -4.82% | 3.38 | 3.38 | 3.35 | — |
| USD/ARS | 1,493 | +0.10% | +12.96% | 1,491 | 1,494 | 1,480 | — |
| USD/UYU | 40.27 | +1.24% | +1.80% | 39.77 | 40.27 | 40.23 | — |
| USD/PYG | 5,939 | +1.68% | -19.54% | 5,841 | 5,939 | 5,925 | — |
| USD/BOB | 11.64 | -0.76% | +72.04% | 11.73 | 11.72 | 11.64 | — |
| USD/DOP | 58.34 | +1.25% | -3.44% | 57.62 | 58.34 | 58.04 | — |
| USD/CRC | 445.92 | +0.89% | -9.71% | 441.97 | 448.50 | 445.92 | — |
03 What moved it
Friday’s data helped the metal. The S&P Global US manufacturing PMI was 56.0 against a forecast of 55.5, a sign that factory demand remains firm, according to the RT economic calendar.
The dollar index rose 0.14% and the US 10-year yield reached 5.00%, which usually weighs on metals. That may explain why the miners did not follow the metal higher.
04 The Latin American read
Chile is the world’s largest copper producer and Peru the second, so copper prices matter for both countries’ public finances. Chile’s peso weakened 0.87% to 994.76 per US dollar on Friday.
Southern Copper has large mines in Peru and Mexico. The company’s shares are a way for US investors to follow Peruvian copper.
05 The names to watch
CPER is the simplest way to follow copper prices in New York. COPX holds mining companies and is more sensitive to the stock market.
Southern Copper and Freeport-McMoRan are the two biggest US-listed producers with Latin American mines.
06 The outlook
The next steps depend on US rates and on Chinese demand. China is the world’s largest buyer of copper.
A move in CPER above US$39.54, Wednesday’s close, would show that the Thursday fall has been fully recovered.
07 What to watch
- The US dollar: A firmer dollar usually weighs on copper.
- US data: Consumer confidence on 27 October and GDP on 29 October.
- The Fed: The decision on 28 October at 18:00 UTC.
- Chile’s peso: A move above 1,000 per dollar would raise import costs.
Frequently Asked Questions
What does CPER track?
It holds copper futures traded in New York, so it follows the metal’s price but not the physical price exactly.
Why did copper rise on Friday?
US factory activity beat forecasts, and the fund recovered some of Thursday’s 2.7% fall.
Which countries matter most for copper?
Chile is the largest producer and Peru the second.
How did Chile’s markets do?
Its stock index fell 0.31%, and the peso weakened 0.87% against the dollar.
Market data: RT
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
LatAm Markets: Live Signals → — real-time movers, turnover leaders and FX across Latin America.