USD Index at 102.59 and CNY at 6.692 set a firmer dollar backdrop that lifted copper 1.79% to 6.7615 USD/lb even as lithium carbonate fell 5.70% to 115400 CNY/t and spodumene SC6 dropped 5.83% to 1615 USD/t. Overnight macro moves reinforce the split between base metals supported by physical supply risks and battery chemicals weighed by weak Chinese demand signals. Para 2: Codelco’s El Teniente south pit partial suspension after the October 12 mudslide, Antofagasta’s Centinela strike by 709 workers halting mining and haulage, Philex Padcal strike by 400 workers, and Freeport’s ongoing Grasberg force majeure together defer multiple tens of thousands of tonnes of 2026 copper output and keep LME tightness intact. Para 3: Stocks most directly exposed include BHP and Rio Tinto via their Chilean and Indonesian copper exposure plus Lynas Rare Earths and Iluka Resources facing the new Chinese rare-earth licensing regime on magnets and 14 nm logic chips.