Key Facts
- The CPER copper fund rose 0.13% to US$39.50 on Friday 16 October, while the COPX copper-miners fund fell 1.05% to US$79.98.
- Freeport-McMoRan fell 0.74% to US$69.54 and Southern Copper 0.59% to US$200.51, while Teck Resources lost 1.70% to US$64.62.
- Quotes for the copper price itself differed by source, so we show no single settlement price; Comex copper was quoted near US$6.58 a pound.
- The Nasdaq fell 2.14% and the S&P 500 1.09%, a risk-off backdrop for industrial metals.
- Prediction markets: Polymarket gives 28.0% to US tariffs on insulated copper cable by 31 December 2026 (US$16,649 traded, read at 8:22 pm ET on 16 October). Bets, not forecasts.
Today’s Focus
Copper-linked funds were mixed on Friday 16 October. The CPER fund, which tracks copper futures, rose 0.13% to US$39.50, while the COPX fund of copper miners fell 1.05% to US$79.98.
The three large producers we track all fell. Freeport-McMoRan lost 0.74%, Southern Copper 0.59% and Teck Resources 1.70%.
Sources disagreed on the copper price itself. Trading Economics showed Comex copper near US$6.58 a pound, up about 1.1%, but we could not confirm a final settlement.
What matters today. For US investors copper is a read on global factories and electrification, and Friday’s split between the metal and the miners shows how little conviction there was.
01 The session in one read
The CPER fund closed at US$39.50, up 0.13%. The COPX miners fund closed at US$79.98, down 1.05%.
Freeport-McMoRan, which has large mines in Peru, Chile and Indonesia, fell 0.74% to US$69.54. Southern Copper, which mines in Peru and Mexico, fell 0.59% to US$200.51.
The Nasdaq’s 2.14% fall pushed investors toward safety. Industrial metals usually trade with risk appetite, which helps explain the weak miners.
Assessment — Metal firm, miners weak LOW
A rise in the metal with a fall in the miners usually points to equity-market pressure rather than a copper-specific story. Sources disagreed on the price move itself.
We could not confirm the copper settlement price, so all price levels are proxies.
02 The board
| Instrument | Level | Change |
|---|---|---|
| CPER copper fund (US$) | 39.50 | +0.13% |
| COPX copper miners fund (US$) | 79.98 | -1.05% |
| Freeport-McMoRan (US$) | 69.54 | -0.74% |
| Southern Copper (US$) | 200.51 | -0.59% |
| Teck Resources (US$) | 64.62 | -1.70% |
The table shows funds and shares in US dollars. We use these as proxies because copper price quotes differed between sources.
Live Market IntelligenceThe live market boardInside: market breadth, the sector heatmap, currencies & rates, the Latin America scoreboard and the full instrument board.
Rio Times · Live Market Intelligence
Latin America — Cross-Market Board
Regional
Oct 16, 2026 · 21:58
Ibovespa · benchmark
205,430.33 +0.54%
L 167,142day rangeH 168,310
+21.85% over 12 months
Market breadth · 5 names
20% advancing
1 ▲ advancing4 declining ▼
Currencies, rates & key inputs
USD / BRL
5.16
+0.01%
USD / MXN
17.06
-0.24%
USD / CLP
913.98
+0.04%
USD / COP
3,140
+0.03%
USD / ARS
1,493
+0.10%
Latin America scoreboard
IndexLastTodayStrength
IbovespaBrazil 205,430.33 +0.54%
S&P/BMV IPCMexico 68,420.16 +1.12%
S&P IPSAChile 10,969.16 -0.02%
S&P MERVALArgentina 2,848,945 -0.35%
MSCI COLCAPColombia 2,566.28 -0.55%
BVL S&P PerúPeru 60,210.69 -0.91%
Full instrument board
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 205,430.33 | +0.54% | +21.85% | 204,324.26 | 168,310 | 167,142 | — |
| IPSA | 10,969.16 | -0.02% | — | 10,971.88 | 11,210 | 10,984 | 1,513,213,483 |
| IPC MEX | 68,420.16 | +1.12% | +12.17% | 67,663.29 | 66,121 | 65,405 | 108,886,187 |
| MERVAL | 2,848,945 | -0.35% | +30.51% | 3,022,485 | 3,042,365 | 2,991,150 | — |
| COLCAP | 2,566.28 | -0.55% | — | 9.04 | 9.05 | 9.02 | 4,133 |
| BVL PERÚ | 60,210.69 | -0.91% | — | — | — | — | — |
| USD/BRL | 5.16 | +0.01% | -5.13% | 5.16 | 5.18 | 5.14 | — |
| EUR/BRL | 5.95 | +1.01% | -5.83% | 5.89 | 5.98 | 5.94 | — |
| USD/MXN | 17.06 | -0.24% | -8.58% | 17.10 | 17.08 | 17.01 | — |
| USD/CLP | 913.98 | +0.04% | -5.67% | 913.65 | 915.11 | 906.68 | — |
| USD/COP | 3,140 | +0.03% | -22.04% | 3,139 | 3,141 | 3,105 | — |
| USD/PEN | 3.36 | -0.66% | -4.82% | 3.38 | 3.38 | 3.35 | — |
| USD/ARS | 1,493 | +0.10% | +12.96% | 1,491 | 1,494 | 1,480 | — |
| USD/UYU | 40.27 | +1.24% | +1.80% | 39.77 | 40.27 | 40.23 | — |
| USD/PYG | 5,939 | +1.68% | -19.54% | 5,841 | 5,939 | 5,925 | — |
| USD/BOB | 11.64 | -0.76% | +72.04% | 11.73 | 11.72 | 11.64 | — |
| USD/DOP | 58.34 | +1.25% | -3.44% | 57.62 | 58.34 | 58.04 | — |
| USD/CRC | 445.92 | +0.89% | -9.71% | 441.97 | 448.50 | 445.92 | — |
Largest moves today
USD/PYG 5,939 +1.68%
USD/DOP 58.34 +1.25%
USD/UYU 40.27 +1.24%
IPC MEX 68,420.16 +1.12%
EUR/BRL 5.95 +1.01%
BVL PERÚ 60,210.69 -0.91%
USD/CRC 445.92 +0.89%
USD/BOB 11.64 -0.76%
The session read
The Ibovespa rose 0.54%, with breadth negative — 1 of 5 names higher. IPC MEX led, while BVL PERÚ lagged.
03 What moved it
Wall Street’s technology selloff dominated the session, with the Nasdaq down 2.14% on worries about spending on artificial intelligence, according to TheStreet. Weak risk appetite hurts the miners more than the metal.
Oil also surged, with Brent at US$109.86 a barrel, which raises costs for mining. We found no copper-specific news on Friday that explains the split.
04 The Latin American read
Peru and Chile are the two largest copper-producing countries in Latin America. Southern Copper, with mines in Peru and Mexico, fell 0.59% on Friday.
Chile’s IPSA closed flat at −0.01%, and the Chilean peso weakened 0.28% to 983.97 per dollar. The peso often trades with the copper price, though Friday’s moves were small.
05 The names to watch
Freeport-McMoRan is a large US-listed copper producer, and it fell 0.74%. Southern Copper is the most direct play on Peru and Mexico.
Teck Resources, the Canadian miner with big Chilean assets, fell 1.70%. The CPER fund is the simplest way to track the metal without company risk.
What Prediction Markets Say
Polymarket, a prediction market, priced US tariffs on insulated copper cable under Section 232 by 31 December 2026 at 28.0% and by 31 December 2027 at 42.5%, with US$16,649 traded (read at 8:22 pm ET on 16 October). Kalshi, a market regulated in the US by the CFTC, priced it at 15.0% before 1 January 2027.
These prices are bets, not forecasts. They can move quickly on news.
Why we show this: prediction markets turn real-money bets into a live probability that moves within minutes of the news, which is why investors, campaigns and newsrooms in the United States now follow them closely. We show them next to polls and official results, never instead of them.
06 The outlook
The next move depends on global risk appetite more than on copper itself. A calmer Wall Street would help the miners catch up with the metal.
A US tariff decision on copper cable would be the main policy risk. The prediction markets price it as unlikely this year.
07 What to watch
- Wall Street: A second day of technology selling would keep pressure on the miners.
- Tariffs: Any US decision on copper cable tariffs would move prices and the miners.
- Peru and Chile: Watch Southern Copper and the Chilean peso for local reaction.
- A clear price: We will report a settlement price once sources agree.
Background: Copper Fund Slips 0.53% as Freeport Gains 0.6%.
Background: Chile Stocks End Flat as Falabella Adds 3.2%.
More: Latin America news in English, every day from The Rio Times.
Frequently Asked Questions
How did copper funds do on 16 October?
The CPER fund rose 0.13% to US$39.50, while the COPX miners fund fell 1.05% to US$79.98. Both are RT closing prices.
Why is there no copper price in this report?
Sources disagreed on Friday’s copper move, so we could not confirm a settlement price. We use funds and shares as proxies.
Which copper miners fell?
Freeport-McMoRan fell 0.74%, Southern Copper 0.59% and Teck Resources 1.70%. Wall Street’s technology selloff weighed on risk appetite.
What do prediction markets say about copper tariffs?
Polymarket priced US tariffs on insulated copper cable by 31 December 2026 at 28.0% as of 8:22 pm ET on 16 October. These are bets, not forecasts.
Market data: RT; copper quote and drivers: Trading Economics, TheStreet; prediction markets: Polymarket, Kalshi.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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