Metals & Mining, Non-Ferrous
November 05, 2026
Dr. Copper's Diagnosis: What Copper Is Telling Us About the Global Economy
Featuring Samantha Humphreys and Hill Vaden
HIGHLIGHTS
Mine supply tightens as smelting margins turn negative
Tariffs and interest rates pressure copper markets
Energy transition drives demand for critical metal
Copper sits at the heart of the energy transition, data centre expansion and global electrification. But behind the bullish headlines lies a market wrestling with tight mine supply, negative smelting margins, tariff uncertainty and rising interest rates. In this episode, Nick Trickett joins Hill Vaden and Sam Humphreys on EnergyCents to explain what is really driving copper prices and what the next 6-12 months could hold for one of the world's most important commodities.
Learn more about S&P Global Energy coverage at: https://www.spglobal.com/energy/en
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