Geomechanics.io

  • Free Tools
Sign UpLog In

Geomechanics.io

Geomechanics, Streamlined.

© 2026 Geomechanics.io. All rights reserved.

Geomechanics.io

CMRR-ioGEODB-ioHYDROGEO-ioQCDB-ioFree Tools & CalculatorsBlogLatest Industry News

Industries

MiningConstructionTunnelling

Company

Terms of UsePrivacy PolicyLinkedIn
    Projects

    Copper price record and retreat: supply squeeze signals for mine project teams

    August 27, 2026|

    Reviewed by Tom Sullivan

    Copper price record and retreat: supply squeeze signals for mine project teams

    First reported on MINING.com

    30 Second Briefing

    Copper hit a fresh Comex record of $6.7775/lb (~$14,940/t) on Wednesday before slipping 1.6% as an extreme London squeeze eased, with LME cash-to-three‑month spreads shrinking from over $500/t last week to $127/t. Tightness remains in prompt metal: more than 50,000 t were queued for withdrawal from LME warehouses, SHFE on‑warrant stocks fell for a sixth day, yet Comex inventories exceeded 675,000 t after 46 straight daily builds. Project Blue estimates 338,000 t of mine output lost in H1, leaving CRU’s projected 2026 surplus of 639,000 t looking closer to balance.

    Technical Brief

    • LME three‑month copper traded around $14,350/t at 13:03 London time, near record settlements.
    • Intraday LME price remains below January’s $14,527.50/t peak, indicating resistance near that level.
    • September LME contract traded about $100/t above October, up from < $50/t last week.
    • Jinrui Futures sets technical support for SHFE copper at 106,000 yuan/t, versus trading near 109,000 yuan/t.
    • Bank of China International’s Amelia Fu anticipates “new record highs” in copper over coming weeks or months.
    • Macquarie’s Alice Fox estimates record Comex stockpiles could take “years” to work down.
    • Southern Copper’s market capitalisation is ~US$181 billion, marginally above Rio Tinto’s ~US$180 billion.
    • Price moves have copper equities easing: Southern Copper −2.5%, Freeport‑McMoRan −1.7%, Teck slightly lower, Zijin +2.4%.

    Our Take

    The earlier 25 August piece in our database on Comex copper’s record $6.7270/lb and a ~$550/t premium over LME three‑month prices shows how quickly the US‑centric squeeze has eased to a $127/t spread, signalling that physical tightness is already moderating even while prices stay near records.

    Southern Copper’s near‑$181 billion market value now eclipsing Rio Tinto’s roughly $180 billion, as noted here, underlines how pure‑play exposure to copper is being rewarded in equity markets compared with diversified majors like BHP and Rio Tinto in our recent copper coverage.

    With copper and other critical minerals dominating 367 keyword‑matched pieces in our database, the continued price strength above $6.60/lb reinforces the likelihood that projects in Latin America, the US and the DRC will be stress‑tested against higher long‑run incentive price assumptions in upcoming feasibility and expansion studies.

    Geotechnical Software for Modern Teams

    Centralise site data, logs, and lab results with GEODB-io, CMRR-io, and HYDROGEO-io.

    No credit card required.

    • Save and export unlimited calculations
    • Advanced data visualisation
    • Generate professional PDF reports
    • Cloud storage for all your projects

    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

    Related Articles

    Mining
    about 4 hours ago

    Caterpillar AHS on 775 trucks with Luck Stone: haulage design notes for quarries

    Caterpillar is extending its MineStar Command for hauling system with Luck Stone from the Bull Run Quarry to two additional Virginia sites and, for the first time, onto Cat 775 haul trucks. At Bull Run, a fleet of autonomous rigid trucks has already moved more than 3.5 million tons since November 2024, following an 18‑month ramp‑up. The deployment on mid‑size 775s signals AHS moving from large open‑pit fleets into smaller quarry-scale operations, with implications for traffic management, loading unit integration and mixed‑fleet haul road design.

    Mining
    about 4 hours ago

    Mahansaria’s US$100m Ascenso OTR tyre move: supply and risk notes for mines

    Mahansaria Group is investing US$100 million to build giant off-the-road (OTR) radial tyre manufacturing capability in India under its Ascenso brand, targeting large haul truck and loader sizes used in mining. The expansion aims to move Ascenso from current agricultural and medium OTR ranges into ultra-large mining tyres, a segment dominated by a few global suppliers and frequently constrained by supply shortages. For mine operators, an additional radial supplier from India could ease procurement risk and support localisation strategies in Asian and African projects.

    Hercules’ Hook porphyry in Idaho: geophysical and drilling lens for mine planners
    Mining
    about 4 hours ago

    Hercules’ Hook porphyry in Idaho: geophysical and drilling lens for mine planners

    Hercules Metals is advancing the Hook target in western Idaho toward direct drilling after reconnaissance hole HER-26-03 clipped a 1.8 km chargeability anomaly with a 500 m high-strength core modelled from ~100 m depth, indicating a shallow porphyry system in Triassic volcanic and carbonate-bearing rocks. The hole, collared 400 m west due to road constraints, cut strong quartz-sericite-pyrite and skarn alteration with 5–10% pyrite but did not test the anomaly’s core, so assays are expected to guide vectoring rather than deliver grades. Hook lies 3 km east of the Leviathan porphyry, which SCP models at >600 Mt grading ~0.5% Cu (~3 Mt contained), and is now Hercules’ strongest untested near-surface chargeability target pending road and drill pad permits.

    Related Industries & Products

    Mining

    Geotechnical software solutions for mining operations including CMRR analysis, hydrogeological testing, and data management.

    CMRR-io

    Streamline coal mine roof stability assessments with our cloud-based CMRR software featuring automated calculations, multi-scenario analysis, and collaborative workflows.

    HYDROGEO-io

    Comprehensive hydrogeological testing platform for managing, analysing, and reporting on packer tests, lugeon values, and hydraulic conductivity assessments.

    GEODB-io

    Centralised geotechnical data management solution for storing, accessing, and analysing all your site investigation and material testing data.

    AllGeotechnicalInfrastructureHazardsEnvironmental