The David Lin Report · Thursday, September 10, 2026
Mike McGlone describes the copper market as an "accident waiting to happen," citing high global inventories and a potentially crushing global economy. Despite strong year-to-date performance, he believes the current price levels are unsustainable.
“And if you look at copper where over the last three, four years, it trades at two to three times the volatility S&P 500 and it's underperformed. Now this year it's performed. That's an accident waiting to happen.”
“I've been calling copper an accident waiting to happen. The question is is the accident starting.”
“The bottom line is if you look inside the market, it's an accident waiting to happen.”