Argus Media

In this episode, Argus explores why copper — long viewed as a stable macro barometer — has entered one of its most turbulent periods in years. From tariff‑driven arbitrage to supply disruptions in Africa and China’s increasingly strained smelter margins, our experts break down the forces shaping the market’s sharp swings and the risks looming over the remainder of 2026. 

Covered in this episode:

How tariff fears, financial inflows and mine outages pushed copper briefly above $14,000/t

Why the Iran conflict introduces both macro headwinds and sulphur‑related supply risks

How sulphur disruption affects SX‑EW production in the DRC and Zambia

Why China’s smelters continue to operate despite record‑negative TCRCs

The outlook for Chinese copper demand in 2026 amid weaker new‑energy sectors

Description: 

 

Resurgent fuel volatility has reignited the case for the UK to reintegrate with the EU’s internal market for electricity and reverse a decoupling sparked by Brexit.

 

In this episode, Daniel Craig, Senior Reporter of Argus European Electricity, speaks with UK market specialist Tim Santonastaso, alongside power market reporters Bea Leverett and Jessamy Guest, to examine the lessons and pitfalls of market integration efforts elsewhere across Europe.

 

Listen to discover key insights on:

Where market integration stands today

The key barriers to further integration across Europe

The factors shaping the divide between market ambitions and political delivery

 

This podcast was created using data and insights from the Argus European Electricity service.

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In this podcast special, Tom Reed (VP – China, Crude and Oil Products) sits down with Dubai‑based experts Nader Itayim (Middle East Editor) and Bachar Halabi (Senior Correspondent) to unpack the crisis disrupting global energy markets and its wider implications.

Two week ceasefire and what is agreed

Crude production and export capacity across ME

Iran’s demand and their implications

With Southern Africa sourcing over 90pc of its sulphur from the region, the Copperbelt’s copper and cobalt producers are facing halted shipments, refinery shutdowns, and rapidly rising costs.

In this episode, noble alloys reporter Roxana Lazar is joined by sulphur and sulphuric acid reporter Fenella Rhodes; senior copper reporter Raghav Jain; and battery materials reporter Chris Welch.

The panel explore how these supply-chain shocks are shaping production in the DRC and Zambia, and how far the consequences could spread across global metals markets.

Topics covered:

The collapse in Middle East sulphur deliveries and its impact on leaching

Tightened global sulphur supply including the stalled gulf cargoes

The impact on cobalt exports, slowed by quota delays and shipping disruption

Whether the conflict is a temporary bottleneck or a structural vulnerability for the Copperbelt

lobal LPG Conversations, Peter Wilton, Jack Greenwood and David Appleton answer listener questions form our recent Webinar, Iran-US War one month on, and offer some initial thoughts on how the market has reacted to the ceasefire and what next should it hold.