copper price increase too much

The price of copper futures increased on October 8, 2025, with the COMEX copper futures contract showing a gain of $0.0195, or 0.38%. This uptick occurred despite some daily fluctuations and a generally bearish trend in LME futures. The increase is linked to ongoing supply disruptions, such as the Grasberg mine outage in Indonesia, which have contributed to tighter global supply. 

Specific Price Movements on October 8, 2025:

COMEX Copper Futures: The Globex Code HGZ5 shows a gain of $0.0195, reaching $5.1140 per pound.

MarketWatch (Copper Continuous Contract): The settlement price was $5.0945, but the most recent price is listed as $5.0680, showing a slight decrease from its previous session. 

Factors Influencing the Increase:

Supply Disruptions: A mud-flow accident at Indonesia's Grasberg mine has halted operations, with a significant reduction in the operator's 2026 sales guidance.

Chilean Production: Chile's copper output also saw a sharp decline in August due to an earthquake affecting Codelco's mining and smelting operations. 

Overall Context:

Copper futures had been near two-month highs in early October, supported by these supply concerns.

While some analysts point to increased refined production in China, the prevailing trend suggests a tightening global supply is a significant factor supporting prices.