U.S. President Trump said he expects year-end inflation to be lower than current levels.

U.S. Trade Representative Greer will testify at a Senate panel hearing on July 22.

Chile is being hit by a strong winter front expected to peak July 16-17 and possibly persist through July 20-21. Northern high-altitude and mountainous mining districts including Antofagasta and Atacama are forecast to see moderate-to-heavy snow and high winds; central to southern Chile face sustained heavy rain with elevated flood, landslide and mudslide risk. The government has activated preventive emergency measures and the mining regulator is coordinating contingency plans with major producers. SMM and local industry sources say heavy snow and rain could temporarily disrupt mine road transport and port loading, creating short-term delays to copper concentrate and electrolytic copper shipments; the actual impact will depend on storm duration and mine operational responses.