Group 1 - LME copper prices surged to a 15-month high due to Freeport's announcement of force majeure at its Grasberg mine and a significant reduction in 2026 production guidance [1][3] - As of September 24, LME three-month copper closed at $10,336.50 per ton, up $362.00 or 3.63% [1][2] - Freeport-McMoRan expects a 4% decrease in copper sales volume for Q3, raising concerns about tightening supply [3] Group 2 - The Grasberg Block Cave mine experienced a fatal landslide on September 8, leading to a suspension of operations, with a phased restart not expected until mid-2026 [3] - The market has absorbed some supply tightness, but Freeport's statement indicates a potential 35% reduction in 2026 output compared to previous estimates, contributing to a 3.9% increase in copper prices [3] - The strong US dollar has put pressure on the market, making dollar-denominated commodities more expensive for investors holding other currencies [3] Group 3 - In the US, spot aluminum premiums reached a historical high of $0.74 per pound (equivalent to $1,631 per ton), nearly doubling since the increase of aluminum import tariffs from 25% to 50% [3] - Minsur, a Peruvian mining company, plans to start tunnel blasting for an underground copper mine in October, with an estimated cost of $500 million as part of its Justa mine expansion [4]