Copper futures fell from all-time highs amid mine closure.

Copper futures experienced a volatile session, reaching a new all-time high before pulling back sharply to finish nearly flat. Supply constraints remain a major focus as Chile's state-owned producer Codelco suspended development at its Andes Norte project due to seismic risks. This pause, which could last up to two years, further tightens global mined copper output and delays access to significant reserves. Additionally, recent labor data presents a softer economic picture. With July ADP private payrolls growing by just 44,000 and unit labor cost growth slowing, the case for a September rate hike is weakening, adding another potential longer-term positive for the metals complex.