On October 2, Southern Copper Corp rose 3.04% in regular trading, trading at $205.245/share, with turnover of $22.71 million. Copper stocks rallied broadly, with TREKOR METALS up 5.84%, Ero Copper up 5.51%, Freeport-McMoRan up 4.53%, and Idaho Copper Corporation up 2.82%.

On the news front, Deutsche Bank issued a warning that global freely circulating copper inventories have fallen to unprecedented lows, with the copper market now facing what it calls the most severe copper shortage on record. The bank estimates that approximately 1.3 million tons of copper could be locked in U.S. warehouses by year-end, as continued U.S. stockpiling compresses spot supply available to other markets and risks triggering a historic scramble for the metal.

Supply-side risks have been compounding in recent weeks, with diesel shortages, El Nino climate disruptions, and Chilean mine labor negotiations creating a triple headwind. Major South American producers have already revised production guidance from 3.9% growth down to a 2.0% decline. UBS has projected the global refined copper deficit to widen to 379,000 tons next year, reinforcing the structural tightness underpinning prices.

Southern Copper Corp is one of the world largest integrated copper producers, operating mining, smelting, and refining facilities across Peru and Mexico, producing copper, molybdenum, zinc, and silver.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)