Look at the good news...
Copper prices are falling. From an avg $3.07 to $2.49.
Oh, and Jibraun. Metals prices, as a commodity go up for everyone around the world, just as the spot price on gold is used the world over. There is a delivery cost that can adjust that, however.
Oil, metals, corn etc are commodities and are fungible. In other words, it matters not where they came. The price of oil, for example is set on the world market and the US companies compete for it with Chinese etc, but the oil from Alaska is worth the same as that from Saudi Arabia, as no one cares where the oil comes from when they buy it. They just want the best price they can negotiate.
If I were in the market for copper, I could buy it from Chile, the US or any other copper producing nation/corp. I just want the copper at my door on this date and I want the best price possible.