USD Index at 101.2 and S&P 500 at 7684 reflect modest risk-off flows that coincided with lithium carbonate falling 5.11% to 126350 CNY/t and spodumene SC6 dropping 5.79% to 1790 USD/t, while copper eased 1.36% to 6.6045 USD/lb on the absence of fresh overnight supply shocks. Escondida’s ongoing suspension removes 3455 tonnes per day of copper output and the supervisors’ union vote at the BHP operation runs through 30 September with rejection likely to trigger mediation, while Grasberg force majeure keeps PT Freeport Indonesia’s 2026 copper production 35% below prior guidance after the September landslide. BHP and Freeport-McMoRan remain the names with the largest direct tonnage exposure to any extension of the Chilean and Indonesian outages.