Copper may rise almost 10 percent to as much as $8,000 a metric ton if it climbs above May’s high of $7,480, according to technical analysis by Marex Spectron Group.

Copper went up today because of the mine collapse in Indonesia. It went to $7,406 a metric ton, close to that figure mentioned above in the technical analysis. That's $3.36 a pound, on the London Metal Exchange.

This is turning out to be a bad year for stockpiles with strikes and natural disasters. It's looking like they might not have their surplus after all. The Grasberg mine is supposed to remain halted until they recover the bodies of their miners.