Copper record tape — FCX / SCCO as the liquid proxy

[LondonNewsTrader]

Commodity desk note into the US session: copper hit a fresh LME record (three-month talk around the mid-$14k/t area in Asia wraps) while US cash reopened after Labor Day.

For equity scalpers the clean proxies are still FCX / SCCO (and the usual ETF sleeve if you don’t want single-name gap risk). This is not “buy copper forever” — it’s a relative-strength / RVOL day when:
- Indexes are soft on oil/rates but copper names hold VWAP
- Or copper dumps on a USD spike and the miners overshoot

Thin post-holiday books still apply — size down until the auction clears.

Sources: Asia copper / LME record coverage (paraphrase).

Are you trading FCX as the A-name, or only the ETF until spreads normalize?
If copper makes a new high but SPX is red, is that long miners or fade-the-divergence for you?