{"id":72068,"date":"2026-09-21T17:38:15","date_gmt":"2026-09-21T21:38:15","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-update-copper-nears-record-highs-amid-supply-constraints-woodward-and-elemental-royalty-announce-major-restructuring\/72068\/"},"modified":"2026-09-21T17:38:15","modified_gmt":"2026-09-21T21:38:15","slug":"global-markets-update-copper-nears-record-highs-amid-supply-constraints-woodward-and-elemental-royalty-announce-major-restructuring","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-update-copper-nears-record-highs-amid-supply-constraints-woodward-and-elemental-royalty-announce-major-restructuring\/72068\/","title":{"rendered":"Global Markets Update: Copper Nears Record Highs Amid Supply Constraints; Woodward and Elemental Royalty Announce Major Restructuring"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Copper prices surged 1% to $14,661\/ton<\/strong> on the LME, approaching the record high of <strong>$14,875<\/strong> as Chinese refinery maintenance and port congestion tighten global supply.<\/li>\n<li><strong>Woodward (<a href=\"\/stock\/WWD\">WWD<\/a>)<\/strong> announced a major manufacturing shift from California to South Carolina, affecting <strong>400 roles<\/strong> and incurring up to <strong>$47.5 million<\/strong> in pre-tax charges.<\/li>\n<li><strong>Elemental Royalty (<a href=\"\/stock\/ELE\">ELE<\/a>)<\/strong> underwent a massive transformation, acquiring a <strong>$290 million<\/strong> portfolio from Orion while cutting its own headcount by over <strong>50%<\/strong>.<\/li>\n<li><strong>CMS<\/strong> introduced preliminary Medicare payment rates for laboratory services that are projected to save taxpayers <strong>$1 billion annually<\/strong> starting in 2027.<\/li>\n<li><strong>Geopolitical tensions<\/strong> remain high as North Korea tests new weaponry and the U.S. signals fresh discussions regarding the conflict in Iran.<\/li>\n<\/ul>\n<h2>Commodities and Industrial Shifts<\/h2>\n<p><strong>Copper prices<\/strong> climbed to <strong>$14,661 per ton<\/strong> on the London Metal Exchange (LME) today, marking a 1% increase. The metal is now trading within striking distance of its <strong>$14,875 record high<\/strong> set on September 10. The rally is driven by a combination of a broader stock market upswing and emerging supply tightness in China, where several refineries are scheduled for maintenance through November. Additionally, persistent <strong>port congestion in Shanghai<\/strong> continues to disrupt import flows, further straining available inventories.<\/p>\n<p><strong>Woodward (<a href=\"\/stock\/WWD\">WWD<\/a>)<\/strong> is overhaulng its aerospace production footprint by moving military flight control actuation operations to <strong>Spartanburg, South Carolina<\/strong>. The company plans to cease operations at its Santa Clarita, California, facility by December 2027, a move that will impact approximately <strong>400 employees<\/strong>. Woodward expects to incur cumulative pre-tax charges between <strong>$34 million and $47.5 million<\/strong> for the transition, which includes the sale of its California campus and legacy product lines.<\/p>\n<h2>Corporate Restructuring and Healthcare Savings<\/h2>\n<p><strong>Elemental Royalty (<a href=\"\/stock\/ELE\">ELE<\/a>)<\/strong> has executed a transformative <strong>$290 million acquisition<\/strong> of a streams and royalties portfolio from Orion. Simultaneously, the company is divesting its generation business to <strong>Carlin East<\/strong> and appointing Frederick Bell as the new CEO following David Cole&#39;s resignation. This strategic pivot will result in a <strong>50% reduction in headcount<\/strong> and is expected to slash annual cash expenses by <strong>$6 million<\/strong>, with 2026 revenue guidance set between <strong>$89.8 million and $101.1 million<\/strong>.<\/p>\n<p>The <strong>Centers for Medicare &amp; Medicaid Services (CMS)<\/strong> announced new preliminary payment rates for laboratory services under the Clinical Laboratory Fee Schedule. These changes are designed to save taxpayers an estimated <strong>$1 billion every year<\/strong>. Final rates for the 2027 cycle are expected to be finalized in November 2026 and will take full effect on <strong>January 1, 2027<\/strong>.<\/p>\n<h2>Geopolitical and Trade Developments<\/h2>\n<p>On the geopolitical front, <strong>Donald Trump<\/strong> is scheduled to hold meetings focused on <strong>Iran<\/strong>, signaling a potential shift or intensification in discussions regarding the regional conflict. Meanwhile, the <strong>United Kingdom<\/strong> has agreed to a request from <strong>Saudi Arabia<\/strong> for time-limited defensive air-to-air refueling to help stabilize the Middle East. In Asia, <strong>North Korea<\/strong> confirmed the testing of a new combat weapon system, adding to regional security concerns.<\/p>\n<p>Trade tensions are also surfacing in Europe as the <strong>USTR<\/strong> prepares for a September 22 hearing regarding <strong>Section 301 investigations<\/strong> into Germany\u2019s pharmaceutical policies. In North America, the <strong>Royal Canadian Mint<\/strong> announced a follow-on offering of <strong><a href=\"https:\/\/stockmarketwatch.com\/metal\/gold\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold<\/a> Exchange-Traded Receipts (ETRs)<\/strong>. The proceeds will be used to purchase 99.99% pure gold bullion, providing investors with further avenues for physical gold exposure amid global uncertainty.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Copper prices surged 1% to $14,661\/ton on the LME, approaching the record high of $14,875 as Chinese refinery 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