Anglo says 300,000ktpa Peru mine has entered commercial production. Chile output and costs negatively affected by Los Bronces water restrictions and changing ore.
Aluminum traders had seen this movie before back in 2018, when US sanctions on Rusal's owner Oleg Deripaska caused massive upheaval along the entire length of the global supply chain.
"Now copper has broken below $7,475 a tonne, traders will be eyeing the $6,955 20-month low touched on July 15," said Saxo Bank head of commodity strategy Ole Hansen.