Base Metals Preview: Copper futures up nearly half a percent in early Asia

COMEX Copper futures are up nearly half a percent at $4.78 per pound on Friday morning in Asia after it fell by over 1% yesterday. The metal had soared earlier in the week as Freeport-McMoRan declared force majeure at its Grasberg mine in Indonesia. COMEX Copper zoomed 3.65% on Wednesday and is hovering around a two-month high. Mining operations in the Grasberg minerals district have been temporarily suspended since September 8th, as previously reported, the company stated. It also noted that for the third quarter of 2025, FCX?s consolidated sales are expected to be approximately 4% lower for copper and approximately 6% lower for gold than July 2025 estimates. Meanwhile, the Nasdaq slid 113.16 points or 0.5 percent to 22,384.70, the S&P 500 declined 33.25 points or 0.5 percent to 6,604.72 and the Dow fell 173.96 points or 0.4 percent to 45,947.32.

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