EL7.AI
CommoditiesMedium•3 November 2026•
1 min read

Commerzbank Warns of Copper Supply Risks as Chile Output Hits 20-Year Low

Key Facts

1Chilean copper output in the third quarter hit a two-decade low.
2Cochilco forecasts an 8.4% slump in copper output for 2026.
3Copper prices fell below $14,000 per ton amid broader risk aversion.

Chilean copper output in the third quarter hit a two-decade low, Commerzbank reported. According to FXStreet, the Chilean Copper Commission (Cochilco) forecasts an 8.4% slump in production for 2026, intensifying concerns over global supply constraints.

Copper prices fell below $14,000 per ton amid broader market risk aversion and selling pressure in the tech sector. Against this backdrop, CRZBY closed at $42.17 on November 2, 2026, as supply-side fundamentals clashed with macroeconomic headwinds despite strong US import demand.

Market participants are looking ahead to the US Balance of Trade report scheduled for November 4, 2026. This data, which includes specific import and export figures, will be critical in assessing US industrial demand for copper amid the projected production deficits.

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