How Chilean Copper Is Quietly Choking America’s Throat: The Truth Behind a Covert Resource War

At the Port of Los Angeles, 60,000 tons of Chilean copper slabs gleam under the sun—while the U.S. domestic copper storage area stands conspicuously empty. This scene reveals the counterintuitive reality that 75% of America’s imported copper is monopolized by South American nations. Last week’s sight at the Port of Los Angeles left me deep in thought: 60,000 tons of copper slabs bearing the Codelco logo shimmered with an intense metallic glare under the sun, while the adjacent U.S. domestic copper storage area remained completely vacant. This image perfectly encapsulates a paradoxical phenomenon: despite being the world’s largest economy, the United States suddenly finds 75% of its imported copper dominated by this South American nation. Even more perplexing is the fact that, as Chilean copper ingots flood into U.S. ports like a tidal wave, Chilean President Gabriel Boric delivers a speech at the United Nations denouncing ‘neocolonialism.’ What logic of resource competition lies beneath this seemingly schizophrenic trade relationship? A ‘Copper Crisis’—the New Oil Shock—is Unfolding An aerial photo of the Port of New Orleans has recently gone viral across mining circles: those towering red copper slabs are not ordinary industrial raw materials—they are strategic commodities gripping the lifeline of U.S. manufacturing. Data for April shows that three out of every four copper ingots entering the United States now bear Chilean labels—a degree of unilateral dependence that far exceeds normal trade parameters. Trafigura’s cargo vessels are staging ‘copper flash-mob’ maneuvers across the Pacific, completing five round-trips from Antofagasta, Chile, to Houston, USA, within just 30 days. Even more telling is the inventory shift at LME warehouses: Chilean copper stock—once accounting for 35% of total holdings—has dramatically shrunk to just 3.7%. This abnormal flow has driven the Shanghai Futures Exchange’s premium for Chilean copper up to $280 per ton—the highest in ten years. Resource Nationalism Behind the ‘Supply Guarantee Agreement’ Chile’s state-owned copper company, Codelco, recently issued U.S. buyers a contract widely regarded as an ‘unequal treaty,’ requiring them to commit to purchasing no less than current volumes over the next three years.

Carbon News | Carbon Emissions Down 95%, Recycled Aluminum Exports Surge 160%

Global Zero Carbon The ‘New Youth’ of Carbon Neutrality 01 Carbon Emissions Reduced by 95%; Recycled Aluminum Exports Soar 160% According to CCTV News on October 9, recycled aluminum—an important alternative to primary aluminum—has seen sustained market momentum this year. In Taizhou, Zhejiang Province, supplies of recycled aluminum are extremely tight, and high-quality scrap aluminum is in critically short supply. Purchasers are stationed on-site around the clock to secure shipments: “High-grade scrap aluminum is extremely scarce—if quality material arrives, we snap up everything immediately, fearing production halts due to material shortages.” Exports of recycled aluminum products are growing rapidly, with their low-carbon advantage opening up overseas markets. Data show that producing one ton of primary aluminum generates approximately 16 tons of CO₂-equivalent emissions, whereas producing one ton of recycled aluminum emits only about 0.5 tons—representing a roughly 95% reduction in carbon emissions compared to primary aluminum. From January to August 2026, China’s cumulative exports of unwrought aluminum and aluminum products reached 4.665 million tons, up 16.8% year-on-year; among them, exports of unwrought aluminum alloys—primarily composed of recycled aluminum ingots—reached 342,000 tons, surging nearly 85% year-on-year. In June alone, exports jumped 160.6% year-on-year—the highest level in recent years. (Source: CCTV News) 02 Major Chilean Copper Mine Hits Strike, Adding Uncertainty to Global Copper Supply A major copper mine in Chile has halted operations amid a labor strike, further complicating an already tense global copper supply outlook. London Metal Exchange (LME) copper prices remain near historic highs, and market concerns over supply deficits continue to intensify. According to media reports dated October 7 local time, after government-led mediation failed to reach agreement, two unions—Minera Esperanza and Distrito Centinela—at Chile’s Centinela copper mine launched a strike at 8 a.m. that day. Natalia Corfield, Head of Latin American Corporate Credit Research at J.P. Morgan, noted in her report that this marks the mine’s first-ever strike. The Centinela copper mine is operated by Minera Centinela, 70% owned by London-listed Chilean copper producer Antofagasta. Centinela is one of Antofagasta’s highest-output copper mines. Media reports indicate the two unions have warned that if the strike continues, Centinela may begin cutting production in approximately two weeks. (Source: Caixin Global) 03 Brazil Sues Shell Subsidiary, Seeking Over $100 Million in Flood Damages On October 9, Brazil’s public prosecutors filed a lawsuit against Shell’s Brazilian subsidiary, demanding $108 million in compensation for damages linked to catastrophic flooding in southern Brazil in 2024. The suit alleges Shell bears responsibility for climate-related losses stemming from its greenhouse gas emissions. At the end of April 2024, torrential rains began inundating Rio Grande do Sul—the country’s agricultural heartland—triggering severe flooding. By June, the disaster had claimed nearly 200 lives and displaced half a million people, causing massive economic losses. Prosecutors argue that, through decades of fossil fuel exploration, production, and sales, Shell has emitted greenhouse gases contributing approximately 2% of total historical global emissions—and must therefore assume corresponding environmental and climate accountability for its role in accelerating global warming.

Antofagasta Copper Miners Strike as High Prices Fan Tensions

Oct 7, 2026

Over 700 workers at Antofagasta’s Centinela mine began a strike over wages. The stoppage risks supply disruptions in Chile amid rising copper prices and industry-wide labor tensions.

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Antofagasta Copper Miners Strike as High Prices Fan Tensions

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