Freeport-McMoRan(US:FCX) 日经中文网·2025-09-25 08:00Group 1 - The core viewpoint is that copper prices are expected to remain strong due to a shortage of copper ore, exacerbated by the operational issues at the Grasberg mine [2][6]. - The international benchmark price for copper reached a new high of $10,364 per ton on September 24, marking the largest increase in approximately 5.5 months [4]. - Freeport-McMoRan, a major U.S. mining company, indicated that production at its Indonesian subsidiary could decrease by about 35% by 2026 due to a landslide incident at the Grasberg mine [6]. Group 2 - Concerns about copper ore shortages are heightened by the expansion of copper smelting capacity in China, which is not being met by sufficient ore supply [6]. - The Cobre Panamá copper mine in Panama was forced to suspend operations in 2023 due to environmental protests, further contributing to supply concerns [6]. - Market Risk Advisory's representative stated that copper prices will continue to remain strong in the context of ore shortages if the Grasberg mine cannot resume operations in the short term [6].