Buy HGF by Jun 21, 2026.

One thing the market still seems to underestimate is how different copper is from a normal cyclical trade. Price can move quickly. Supply response usually cannot. That is obvious in the current setup. Reuters reported that Grasberg is not expected to return to pre-accident production levels until 2027. El Teniente is expected to run at reduced output for about five years. Kamoa-Kakula cut 2026 guidance to 380,000 to 420,000 tonnes as recovery continued. Those are long timelines for some of …