Group 1 - LME copper prices reached a two-week high, driven by market expectations of a potential interest rate cut by the Federal Reserve following President Trump's dismissal of Fed Governor Lisa Cook [1][5] - As of August 26, LME three-month copper rose by $40.5, or 0.41%, closing at $9,837.0 per ton, with an intraday peak of $9,862 [1][2] - The weakening US dollar made metals priced in dollars cheaper for holders of other currencies, boosting demand and prices [5] Group 2 - Analysts expressed concerns over the independence of the Federal Reserve following the dismissal of Cook, which may impact investor sentiment [6] - The US Geological Survey proposed including copper in the 2025 critical minerals list, highlighting its importance for the national economy and security [6] - Codelco, the world's largest copper producer, has lowered its copper production forecast for the year due to operational disruptions at its El Teniente mine [7] Group 3 - LME three-month zinc prices fell by $4.5, or 0.16%, closing at $2,813.5 per ton, amid supply concerns in the market [8] - The spread between spot zinc and three-month zinc has narrowed significantly, indicating market adjustments [8] - The market is awaiting China's manufacturing PMI data to gauge demand prospects [8]

Core Viewpoint - The U.S. Department of the Interior has proposed adding six minerals, including copper, silicon, silver, and potassium, to the 2025 critical minerals list, emphasizing their importance for the U.S. economy and national security [1][3][4]. Group 1: Proposed Additions - The six minerals proposed for addition are copper, potassium, silicon, silver, lead, and rhenium, which are deemed strategically significant for economic development and national security [4]. - Copper is highlighted as a key material for the electrical grid, transportation, and defense sectors, with increasing demand driven by the growth of data centers and artificial intelligence [3][4]. - Potassium is primarily used in fertilizer production, playing a crucial role in ensuring agricultural production safety [4]. Group 2: Policy Implications - The update of the critical minerals list is seen as a roadmap to reduce U.S. dependence on imports and expand domestic production, reflecting the government's focus on enhancing the security of critical resource supply chains [3][4]. - Resources listed as critical minerals will benefit from various policy advantages, including federal funding support and streamlined permitting processes, which will enhance the competitiveness of domestic companies due to tariffs on imported products [4]. Group 3: Exclusions and Adjustments - Metallurgical coal and uranium, despite being considered for inclusion, were not added to the draft list, although public comments are welcomed for potential future inclusion [5]. - Arsenic and tellurium are recommended for removal from the critical minerals list, with the final list subject to adjustments based on public feedback during the 30-day comment period [6].