According to @KobeissiLetter, Morgan Stanley projects the copper market will post its most severe deficit in 22 years in 2026 at negative 590,000 tons. Source: @KobeissiLetter citing Morgan Stanley. Global annual copper output is on track to contract for the first time since 2020, compounding tightness. Source: @KobeissiLetter. Major operational disruptions at several mines are worsening supply constraints. Source: @KobeissiLetter. Simultaneously, demand from AI data centers and electric vehicles is expected to outpace supply. Source: @KobeissiLetter. The post concludes that higher copper prices are here to stay, signaling a constructive bias for copper-linked assets and volatility in copper futures as deficits emerge. Source: @KobeissiLetter.

According to @business, Teck Resources said third-quarter profit rose 19% while Anglo American has agreed to buy the Canadian miner, putting deal-spread dynamics in focus for equity traders. source: Bloomberg https://www.bloomberg.com/news/articles/2025-10-22/anglo-target-teck-says-profits-increase-19-in-third-quarter Teck is a diversified producer of copper, zinc, and steelmaking coal, so stronger profitability may influence sentiment across base-metal miners and related commodity equities. source: Teck corporate profile https://www.teck.com Merger-arbitrage strategies typically monitor target and acquirer price convergence after earnings during pending deals, which can shift spreads and hedge ratios. source: Investopedia https://www.investopedia.com/terms/m/mergerarbitrage.asp For crypto market participants, shifts in broader risk appetite from equity and commodity moves can spill over to digital assets, with crypto-stock correlations having strengthened in recent years. source: IMF https://blogs.imf.org/2022/01/11/crypto-prices-move-more-in-sync-with-stocks-posing-new-risks