Group 1: Copper Market Insights - Codelco has significantly raised its annual premium for copper supply to $350 per ton for 2026 contracts, a substantial increase from the $89 per ton agreed upon this year, indicating strong market demand and potential supply shortages in other regions [1] - Copper prices are approaching $10,900 per ton, having risen nearly 25% this year, with a record high of over $11,000 per ton reached last month, driven by supply disruptions and ore shortages [1] - The weakening US dollar, influenced by speculation of further Federal Reserve policy easing, has made copper and other metals more attractive to overseas buyers [1] Group 2: Iron Ore Market Trends - Iron ore contracts in Singapore have risen for the third consecutive day, while Chinese Dalian Commodity Exchange iron ore futures also recorded gains [2] - Fitch Solutions' BMI forecasts that iron ore prices will average $95 per ton next year due to additional supply from the Simandou project in Guinea and stable production from major miners [2] - Shanghai steel contracts experienced a slight decline, contrasting with the upward trend in iron ore prices [2]