Copper prices represent a dangerous technical breakdown because they were predicated on long-term bullish expectations about electric vehicles and renewable energy rollout, making them vulnerable to political messaging that wasn't grounded in fundamental supply-demand analysis, and this vulnerability suggests caution against assuming current prices represent a bottom.

causalpending

Speaker

Daniel Lay

Evidence Quote

In the case of copper, the front end of the curve was moving very aggressively on expectations of electric vehicles and renewable roll out. It was easy for Trump and Bessant to prick that trend with a couple of messages [26:44]

Source

MacroVoices #492 Daniel Lacalle: The End of American Exceptionalism?Macro Voices
Created: 8/11/2026, 7:39:51 AM

My Notes

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