Shares of Capstone Copper (ASX:CSC) were up over 1% in recent trading on Monday, while those of Aeris Resources (ASX:AIS) soared over 4% as Morgan Stanley forecast LME Copper to rise to $13,775 per tonne by the end of December, and then to $14,064 per tonne by the end fo 2026 from $10,181.5 per tonne currently.

Morgan Stanley also forecast lower supply for both 2025 and 2026, noting that copper inventories are low outside the US, leaving a limited buffer, "while positioning is not overstretched," according to Morgan Stanley's commodities strategist Amy Gower.

Shares of Sandfire Resources (ASX:SFR) inched down 0.1%, while those of Metals Acquisition (ASX:MAC) were down 0.3%.