Why Industrial Metals Are Plunging Despite Supply Cuts

Episode 39 of The Commodities Economy. Lucas and Luna break down the surprising collapse in industrial metals like copper and aluminum, even as major producers announce supply cuts. With copper futures down 2.3% in the past week to $6.33 per pound and silver plunging 7% to $68.30, the hosts explore why traditional supply-side logic isn't working in 2026. They examine the role of China's slowing manufacturing PMI, the impact of higher interest rates on industrial demand, and whether the green energy transition can still drive a metals supercycle. Plus: a look at how aluminum tariffs have permanently reshaped global trade flows, and what the backwardation in copper futures tells us about near-term versus long-term demand. Lucas draws on a 2023 Goldman Sachs copper forecast to illustrate how quickly the narrative flipped. A focused, data-driven conversation for anyone trying to understand the disconnect between supply cuts and falling metal prices. #Commodities #IndustrialMetals #Copper #Aluminum #Silver #SupplyCuts #ChinaSlowdown #GreenEnergy #GoldmanSachs #Backwardation #Tariffs #ManufacturingPMI #InterestRates #MetalsSupercycle #Economics #FexingoBusiness #BusinessPodcast #CommoditiesEconomy Keep every episode free: buymeacoffee.com/fexingo