Base Metals Preview: COMEX copper at 2-month high above $4.8 per pound mark

COMEX Copper futures climbed above $ 4.8 per pound mark on Monday morning in Asia after gainaing around 2.40% last week. It is also up above 3% in September so far. The metal had soared last week as Freeport-McMoRan declared force majeure at its Grasberg mine in Indonesia. 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 Dow advanced 299.97 points or 0.7 percent to 46,247.29, the S&P 500 climbed 38.98 points or 0.6 percent to 6,643.70 and the Nasdaq rose 99.37 points or 0.4 percent to 22,484.07. Despite regaining ground after closing lower for three straight days, the major averages still posted losses for the week. The Nasdaq slid by 0.7 percent, while the S&P 500 and the Dow dipped by 0.3 percent and 0.2 percent, respectively.

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