Matt Murphy

Helen Amos, a macro commodity analyst, and Matt Murphy, a base metals equity analyst, delve into the potential impact of a 50% U.S. tariff on copper. They discuss how this could affect global pricing dynamics and supply chains, with Helen predicting shifts in the COMEX-LME spread. Matt highlights which U.S. miners might benefit from a refining growth and the challenges of U.S. smelting capacity. The conversation also touches on the slow pace of building refining infrastructure and the implications for both domestic and international markets.