Antofagasta Stock Rises with Copper Prices Hitting Record High
Antofagasta's stock surged to a four-day high on September 8, 2026, as copper prices hit an all-time record on the London Metal Exchange. The company's shares rose by 4.70 percent to close at around 4,081.00 pence in London, with copper prices reaching 14,617.00 US dollars per tonne.
The strong performance of Antofagasta stock was driven primarily by the record-breaking copper prices on the LME. The company's core business is centered on large-scale copper mining operations in Chile, and its shares were among the top performers in the FTSE 100 index on September 8.
However, the operational data for Antofagasta's molybdenum production in the first half of fiscal 2026 showed a decline of 17 percent to 4,700.00 tonnes at Los Pelambres and 18 percent to 1,400.00 tonnes at Centinela compared to the previous year.
The combination of record copper prices and weaker molybdenum output means that Antofagasta's revenue mix is shifting more heavily toward copper at a time when the benchmark metal is trading at historically high levels.