Peru is the world's second-largest copper producer, making political stability crucial for mining output. If anti-mining or radical left-wing parties gain significant Senate seats, it could threaten mining concessions, directly impacting Southern Copper (SCCO) and the iShares MSCI Peru ETF (EPU). While there is a spillover effect on global Copper prices, the primary volatility will be concentrated in these regional assets.

April 8, 2026 - April 11, 2026, FP's price surged from 69.5c to 81c, while JP dropped from 23.75c to 6c and RP fell from 8.5c to 4.5c. This is driven by final-stage voter consolidation around FP, solidifying its position as the undisputed frontrunner just a day before the election. April 6, 2026 - April 9, 2026, FP's price surged from 37c to 75.5c, while JP dropped from 28c to 15.4c and RP fell from 20.5c to 7c. This is driven by final-stage voter consolidation around FP, solidifying its position as the undisputed frontrunner just days before the election. April 4, 2026 - April 7, 2026, FP's price surged from 27c to 63.5c, while RP's plummeted from 29.5c to 11c. This is due to conservative voters accelerating their 'strategic voting' (voto útil) towards the leading FP as the election approaches, causing a drastic internal shift in the right-wing bloc. April 3, 2026 - April 6, 2026, the price of FP surged from 29c to 44c. This is likely due to conservative voters strategically consolidating (voto útil) around the stronger FP as the election approaches, making it the favorite to win the most seats. March 31, 2026 - April 4, 2026, the price of RP steadily increased from 15.5c to 29.5c, as conservative voters further consolidated around the party closer to the election date, giving it strong upward momentum. March 29, 2026 - March 30, 2026, JP's price crashed from 59.1c to 34.65c, while FP surged from 10.5c to 31.5c, and APP dropped from 13.5c to 7.5c. This was due to new pre-election polls showing JP's leftist advantage deteriorating significantly, with the right-wing FP rebounding sharply, shifting the market expectation back to a highly fragmented race. March 26, 2026 - March 27, 2026, the price of JP surged dramatically from 12.1c to 57.9c, while major competitors like APP (crashed from 37c to 16c), FP (crashed from 34.5c to 11.5c), and RP (crashed from 32c to 10.5c) all suffered massive drops of over 20c. This is likely due to key pre-election polling or late-stage political consolidation favoring JP, prompting a rapid market shakeout and aggressive repricing just 15 days before the vote. March 11, 2026 - March 12, 2026, the market underwent a violent 'bubble burst' correction. Fuerza Popular (FP) crashed from 23c to 8.5c, APP plummeted from 22c to 9.5c, and AvP collapsed from ~35c to 1c. Conversely, Renovación Popular (RP) surged from 24c to 55c between March 8 and 11 (before settling at 42.5c). This indicated a massive capital rotation from a broad spread into a consolidated bet on RP.