Mexico and Andean Stocks: IPC, IPSA, COLCAP, BVL — 2026-09-13
Andean markets faced divergent pressures this week, with Chile’s IPSA falling on lithium weakness and Colombia’s COLCAP sliding due to oil price drops. Meanwhile, copper hit a record high of US$14,533 per tonne, boosting sentiment for mining-linked assets in Peru and Chile, while Mexico’s IPC remained cautious amid Fed rate speculation and peso strength.
Mexico and Andean Stocks: IPC, IPSA, COLCAP, BVL — 2026-09-13
Top developments
Copper Hits Record US$14,533 Per Tonne
Copper prices surged to a historic high of US$14,533 per tonne on September 7, 2026, driven by tight supply in the Andes and robust demand from China’s energy transition projects. This record level has directly lifted the outlook for Chilean and Peruvian exporters, though it also raises costs for global grid infrastructure builds. Despite the metal's rally, specific miner shares in the region saw mixed reactions as investors weighed valuation limits against structural demand.
riotimesonline.com
s slipped, while the peso weakened against the dollar.
riotimesonline.com
riotimesonline.com
riotimesonline.com
riotimesonline.com
riotimesonline.com
riotimesonline.com
riotimesonline.com
riotimesonline.com
riotimesonline.com
Chile’s IPSA Falls on Lithium Slump and Retail Weakness
Chile’s IPSA index declined during the September 10 session, pressured by a sharp drop in lithium giant SQM and underperformance in retail stocks. The broader lithium sector faced headwinds as the LIT ETF fell 2.66%, with Albemarle and SQM dropping 3-4% on ample supply concerns. The Chilean peso weakened against the dollar, reflecting the market’s caution despite the government’s pro-business stance.
riotimesonline.com
s slipped, while the peso weakened against the dollar.
riotimesonline.com
riotimesonline.com
riotimesonline.com
riotimesonline.com
riotimesonline.com
riotimesonline.com
riotimesonline.com
riotimesonline.com
riotimesonline.com
Colombia’s COLCAP Drops 1.41% Amid Oil Weakness
Colombia’s COLCAP index fell 1.41% on Friday, September 11, anchored by weakness in the oil sector. This decline follows a brief rally earlier in the week where the index had gained 1.65%, highlighting the volatility driven by commodity prices. The Colombian peso strengthened slightly against the dollar during the session, providing some cushion for foreign investors.
riotimesonline.com
s slipped, while the peso weakened against the dollar.
riotimesonline.com
riotimesonline.com
riotimesonline.com
riotimesonline.com
riotimesonline.com
riotimesonline.com
riotimesonline.com
riotimesonline.com
riotimesonline.com
Mexico’s IPC Cautious as Peso Strengthens to 16.96
Mexico’s S&P/BMV IPC fell 0.45% on Friday, closing near 63,924 points after earlier weekly gains. The index had risen 0.44% earlier in the week, shrugging off Televisa-specific issues, but ended the week lower as traders positioned ahead of potential Fed rate changes. The Mexican peso firmed to 16.966 per dollar, reflecting strong inflows into local debt and equities despite global caution.
riotimesonline.com
s slipped, while the peso weakened against the dollar.
riotimesonline.com
riotimesonline.com
riotimesonline.com
riotimesonline.com
riotimesonline.com
riotimesonline.com
riotimesonline.com
riotimesonline.com
riotimesonline.com
Local view
Local media highlighted the "Superpeso" effect in Mexico, with business leaders urging Banxico to cut rates to mitigate the impact of a stronger currency on exporters. In Chile, Diario Estrategia noted the IPSA’s 1.16% drop on Thursday, pointing to broad-based selling rather than isolated sector moves. Colombian outlets reported mixed sentiment, balancing oil-driven losses against stable macroeconomic indicators.
Context & numbers
- Mexico IPC: Closed at approximately 63,924 points (down 0.28% on Sept 11, down 0.45% on Sept 12).
- Chile IPSA: Fell 1.16% on Thursday, Sept 10; continued weakness on Friday.
- Colombia COLCAP: Down 1.41% on Friday, Sept 11.
- Copper: Record price of US$14,533/tonne on Sept 7; CPER tracker up 0.36% on Friday.
- Lithium: LIT ETF down 2.66%; SQM down ~3-4%.
On the radar
- Banxico Policy Pressure: Business groups are intensifying calls for rate cuts due to the strong peso, which could influence future monetary policy decisions.
- Foreign Investor Flows: Reports indicate continued foreign buying of BMV stocks and fideicomiso properties in Mexico, supporting the peso and equity valuations.
- Chilean Pension Funds: Investors are watching AFP multifondos performance, particularly Fund A (high equity exposure), for signals on local risk appetite.
This content was collected, curated, and summarized entirely by AI — including how and what to gather. It may contain inaccuracies. Crew does not guarantee the accuracy of any information presented here. Always verify facts on your own before acting on them. Crew assumes no legal liability for any consequences arising from reliance on this content.
Powered by
