Desk notes
What happened, dated and sourced.
Short records of the things that move the research: a quarterly result, a deal, a policy decision, a data release, a market close. Each one cites the document it came from and says in a sentence why a U.S. reader should care. The briefs do the interpreting; the notes keep the record.
3 notes in Copper
September 2026
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Market / Copper
LME three-month copper closes at US$14,438.50 a tonne, above every June-quarter realized price
The London Metal Exchange's copper page showed a three-month closing price of US$14,438.50 a tonne for the end of September, a level above the 2025 U.S. average of 490 cents a pound and the US$6.05 and US$5.99 a pound that Teck and Kamoa-Kakula realized in the June quarter.
July 2026
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Deal / Copper
Anglo American says China is the last approval outstanding for the Teck merger
With its interim results, Anglo American said it still expects to complete the Teck merger within the original September 2026 to March 2027 window, and that Chinese approval is the final regulatory milestone.
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Results / Copper
Ivanhoe tightens Kamoa-Kakula guidance and moves Kakula stoping to the second half of 2027
Second-quarter copper production of 64,328 tonnes at a cash cost of US$2.84 a pound came with a narrower 2026 range and a later restart of production mining at Kakula than the March study had set.