Copper and Lithium Prices Slip as Chile Storms and Slowing EV Demand Hit Markets

Copper prices hovered near a four‑week high of about $13,700 per tonne while LME inventories fell 30 % since May, as severe storms in Chile—responsible for roughly 23 % of global copper output—raised concerns over supply disruptions. Smelter capacity constraints and a recent suspension of Zambia’s copper export tax further narrowed the supply gap.

In the lithium sector, the Lithium Triangle (Chile, Argentina and Bolivia) saw equities decline: the LIT ETF dropped 1.75 %, Albemarle shares fell 1.76 % and Chile’s SQM slipped 0.85 %. Investors cited slower electric‑vehicle battery demand, Chinese price pressures and lingering policy uncertainty over state involvement and public‑private partnerships in the region.

Separately, Vale Indonesia announced a major construction milestone at its $2 billion HPAL battery‑nickel plant in Morowali, installing key autoclaves ahead of a 2026 production target. Meanwhile, Scotland’s data‑centre boom plans for about 24 hyperscale sites could demand 1.5 times the nation’s peak electricity consumption.