Copper Squeeze Deepens In London As Futs Near Record; Barclays Flags Top Mining Picks

Copper prices in London have held above $14,000 a ton for nine consecutive sessions, with steep backwardation signaling that near-term demand is outstripping available supply. A confluence of bullish drivers is pushing prices toward record highs, while the key cash-to-three-month spread has widened to its highest level since the 2021 market squeeze.

The spot price traded as much as $543.50 a ton above three-month contracts on the London Metal Exchange, a hallmark of steep backwardation that signals near-term demand is outstripping available supply.

LME copper curve signals deep backwardation:

Three-month futures rose as much as 1.7% to $14,396 a ton on Monday, closing in on January's record of $14,527.50.

Richard Garchitorena, a New York-based Barclays equity research analyst covering North American metals and mining stocks, wrote Monday morning that mining stocks are poised for further gains as copper supplies continue to tighten.

Garchitorena said copper supplies remain constrained for a number of reasons: Chilean production fell 6.7% year over year through June, prompting Cochilco to cut its 2026 forecast to 5.27 million tons, down 2.6%. Antofagasta separately reduced its annual guidance by about 5% after severe weather disrupted its Los Pelambres mine. An outage at Indonesia's Gresik smelter has also delayed shipments, with no restart date established.

He added that LME copper stockpiles have plunged 32% from a month earlier to 205,000 tons, while Comex inventories rose 8% to 735,000 tons as traders await a potential U.S. tariff on refined copper. He also noted that speculative net-long positions increased to 77,123 contracts, up 20% from July.

Garchitorena's preferred individual mining stocks to watch include Freeport-McMoRan, First Quantum Minerals, Hudbay Minerals, Newmont and Agnico Eagle.

Global X Copper Miners ETF (COPX)

Separately, David Wilson, head of metals strategy at BNP Paribas SA, told clients, "There seems to be momentum for it to get there," referring to the potential for LME copper to exceed the January record. "It's moving into overbought territory, but I don't know if that means anything at the moment, given how tight it is."

"Normally you'd expect to get more Chinese deliveries into the LME," BNP's Wilson said. "But the thing is, why would you deliver to the LME when you can still effectively ship metal into the US?"

Bloomberg noted that the copper squeeze comes "ahead of the third Wednesday of the month delivery date, the main focus of liquidity in the LME's contracts. That may pile pressure onto traders with short positions."

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Copper Squeeze Deepens In London As Futs Near Record; Barclays Flags Top Mining Picks

How Socialism Gains Popularity

Authored by Sylvia Xu via The Epoch Times,

More than 80% agreed economic hardship can make socialist policies attractive even to people who oppose socialism.

Most Americans see communism in an unfavorable light, and a strong majority of Epoch readers say it’s incompatible with the United States’ founding principles. Yet socialism, an early stage of communism, continues to attract people by promising equal wages, low costs, and public benefits.

The goal sounds appealing, but the means have historically included higher taxes and extensive state control.

When asked about a movement in the United States to embrace socialism, Vice President JD Vance said in an Aug. 13 Fox News interview, “Our response to that can’t be to just ignore the economic concerns that I think are feeding this rising interest in socialism.”

American citizens deserve a good life in this country and a good government to make that happen, said Vance.

The Trump administration is rebuilding the industrial base and the heartland, making streets safer, and making it possible for young people to afford a home, Vance said.

“This is how you stop socialism.”

“You don’t stop socialism by throwing slogans at people about the free market—as much as I love the free market—you stop socialism by making people’s lives better, and that’s what we’re trying to do every single day,” Vance said.

Here is a look at Epoch readers’ attitudes towards socialist ideology and a government-controlled economy.

Socialism and Cost

The majority of survey respondents are against the socialist ideology of high taxes and income redistribution.

Ninety percent of readers opposed substantially higher taxes on high-income Americans to fund benefits for working- and middle-class families.

A whopping 97 percent opposed using the tax system not only to fund the government, but also to make incomes more equal, with 92 percent strongly against.

The same 97 percent agreed that the public ultimately absorbs the cost of free government benefits.

Additionally, more than 90 percent of readers would not consider voting for a democratic socialist candidate even if they supported the candidate’s economic policies.

Government Control

Around 96 percent of survey takers oppose greater government economic control in exchange for greater economic security.

Nearly all those polled (98 percent) were against government determining wages and prices rather than leaving them to the free market.

Ninety-three percent opposed allowing extensive government intervention in wages, prices, and social benefits, even if private ownership were preserved.

When it comes to life and affordability, readers’ attitudes softened toward government intervention.

Just over 80 percent of respondents opposed government limits on prices (85 percent), a higher mandated minimum wage (83 percent), and limits on rent increases (81 percent).

Public Benefits

Almost all of those surveyed (97 percent) opposed government providing more basic needs if it weakens individual initiative and productivity.

While 90 percent opposed fare-free public transportation, there was a modest drop to 80 percent who were against taxpayer-funded child care for needy families.

When asked about homeowners funding public schools through property taxes even if they do not use public schools, 67 percent of survey takers opposed, 16 percent were unsure, and 17 percent supported the idea.

How Socialism Gains Popularity

A majority of respondents (94 percent) agreed socialism can expand gradually by eroding private control of property while retaining the label of capitalism.

A similar majority of readers (93 percent) agreed that socialist policies can gain support when presented as benefits rather than as government control.

Eighty-seven percent agreed that people may reject socialism by name while accepting its policies one at a time.

Meanwhile, 82 percent agreed economic hardship can make socialist policies attractive even to people who oppose socialism.

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How Socialism Gains Popularity

San Mateo County Passes Resolution To Regulate Commercial Humanoid Robots

Authored by Lear Zhou via The Epoch Times,

San Mateo County may become the first in California to regulate humanoid robots used for commercial purposes.

The county board of supervisors on Aug. 11 passed a resolution sponsored by Supervisor Ray Mueller to direct county legal and administrative staff to draft an ordinance regulating the use of untethered autonomous or semi-autonomous humanoid robots, or “mobile humanoid robots,” in restaurants, retail stores, and other businesses.

State law already regulates autonomous vehicles but not the commercial use of humanoid robots, according to a county memo. The resolution aims to create a “comprehensive permitting process governing the commercial deployment and operation” of such robots within the county.

Several companies have already started humanoid robot pilot projects.

Tau Robotics, for instance, offers cleaning services to invited San Francisco residents at $30 per hour in a pilot program launched on July 28. The robots are operated by humans and artificial intelligence, according to the company’s website.

According to the county memo, having a permitting framework in place before these robots are widely implemented would “encourage the responsible integration of emerging technologies in a manner that serves the public interest.”

The resolution directs county staff to consider having businesses pay an annual fee dedicated to HazMat and fire equipment for local first responders to handle risks from the lithium-ion batteries the robots use.

“In recent years, we’ve seen an uptick in lithium-ion battery fires due to thermal runaway,” Rich Seguine, vice president of Local 2400, which represents firefighters in San Mateo County, said in a public comment at the county board meeting. “A funding source like this in the resolution can be used to purchase necessary specialized equipment.”

The resolution also aims to require the robots to have accessible emergency “kill switches,” have clean manufacturer safety records, and be supervised by a trained human onsite.

Technological progress and protecting working people aren’t competing goals, said Julie Lind, a member of the San Mateo Labor Council, in a virtual public comment.

“Businesses should understand and account for the human consequences of deploying this technology, including potential job losses,” Lind said.

Non-humanoid robots have already been deployed in a few commercial uses in the area, including Cafe X, a robotic coffee bar in San Francisco International Airport; Artly Coffee in Stonestown Galleria in San Francisco; and autonomous sidewalk delivery company Coco Robotics.

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San Mateo County Passes Resolution To Regulate Commercial Humanoid Robots

More Than Half Of Gen Z Investors Have Moved Money Into Sports Bets

A growing share of young Americans is folding sports gambling into their long-term financial plans, according to new research from the investment platform Betterment.

In an online survey of 1,000 U.S. retail investors conducted in late March and early April and released this week, 52% of Gen Z investors said they had shifted money originally set aside for stocks or other investments into sports wagers over the past year. Only about one-third of Gen Z participants reported no involvement in sports betting at all, compared with 63% across all age groups in the survey.

26% of Gen Z respondents - those born between 1997 and 2007 - said they view sports betting as a deliberate, ongoing part of their wealth strategy. That figure drops sharply with age: 14% of millennials, 6% of Gen X, and just 1% of baby boomers reported the same outlook.

Of those Gen Z respondents, roughly 11% described betting as an investment strategy aimed at high returns, while 15% treated it as a short-term way to raise cash.

The betting numbers sit inside a broader shift in where young investors get their information. Social media is now Gen Z's most commonly cited source for financial news, rising from 45% in 2024 to 60% this year - nearly three times the 21% who cite a financial advisor.

The findings highlight how the rapid growth of legal sports gambling and prediction markets is competing for the same discretionary dollars that once flowed into retirement accounts and brokerage portfolios. The state-regulated sports betting industry in the United States has expanded into a nearly $17 billion business in recent years. Prediction markets have also surged; Robinhood Markets, long known for democratizing stock trading, added them to its app in 2025 and has called the segment its fastest-growing business line ever.

Betterment Chief Executive Officer Sarah Levy warned that the trend carries risks. "When a prediction market or sportsbook starts to feel like a retirement strategy, we have a problem," she said in a statement. "These products are designed to keep people seeking the next quick score, not to help them build toward the next decade. Younger investors deserve access to the tools and information that meet them where they are, but the industry also has a responsibility to be clear about the difference between participating in a trend and building lasting wealth."

Robert Kosciuk, a 32-year-old from Huntington, New York, illustrates the shift - maintaining a Robinhood account for stocks but devoting more energy this year to betting, Bloomberg reports. He says he approaches sports wagers with the same discipline he applies to investing: researching outcomes carefully, avoiding emotional decisions, and limiting most bets to $100. He acknowledges the activity is gambling but believes he manages it more thoughtfully than casual players. So far this year he has earned roughly $2,500, enough to cover a vacation he attributes in part to successful bets on the Carolina Hurricanes.

Industry representatives push back on the idea that betting should be treated as investing. Joe Maloney, president of the Sports Betting Alliance - whose members include FanDuel, DraftKings, Fanatics Betting & Gaming, bet365, and betMGM - told Bloomberg that sports wagering is entertainment, not a wealth-building strategy. Adults who choose to bet, he added, should do so responsibly within a fixed entertainment budget and never with money needed for savings or essentials.

Broader economic pressures may be amplifying the appeal of high-risk options. Eighty percent of Gen Z respondents who already use or are considering speculative investments said concerns about falling behind financially played a role, according to a Northwestern Mutual study of 4,357 adults conducted by the Harris Poll in January. As homeownership grows more difficult and everyday costs rise, some younger adults are turning to sports betting, prediction markets, and crypto in hopes of accelerating progress toward their goals.

The Betterment survey also examined how investors make decisions. 56% percent said they rely primarily on their own research and judgment - more than any other single source. That self-reliance increased with age, rising from 40% among Gen Z respondents to 69% among baby boomers. About one in three participants reported trusting artificial intelligence for financial advice. Of those, 53% said AI had prompted a decision they would not otherwise have made, including 48% of all Gen Z respondents. Gen Z investors were eight times more likely than baby boomers to say they were comfortable using AI for long-term financial planning - 41% against 5%.

The survey polled 1,000 U.S. retail investors between March 27 and April 3, split evenly across four generations, meaning each generational figure rests on roughly 250 respondents. Participants were recruited through an incentivized online panel and were required to hold at least one investment outside a 401(k).

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More Than Half Of Gen Z Investors Have Moved Money Into Sports Bets

Ukraine Hits Key Russian Space Facility With Flamingo Cruise Missiles

Ukraine's long-range drone attacks have frequently targeted military bases and oil refinery and energy sites of late, and more recently warehouses of major Russian online retailer Wildberries - but on Saturday a new target has been added: space facilities.

Ukrainian forces have touted that they've struck the Progress Rocket and Space Center in Russia's Samara region. The facility focuses on the manufacturing and operation of space launch vehicles.

Illustrative: Baikonur Cosmodrome, Space.com/NASA

Ukrainian President Volodymyr Zelensky said on X that Ukraine hit the space manufacturing center with FP-5 Flamingo cruise missiles - among the largest in Ukraine's arsenal, and which are domestically developed and produced.

He said it was necessary to target Russian space agency Roscosmos as among Russia's "key enterprises" - and that the targeted site was also involved in "electronics production" connected to military operations.

Other sites targeted in the fresh wave of attacks included Savasleyka air base in the Nizhny Novgorod region, which hosts aircraft used to attack Ukraine, as well as an oil facility in Ust-Luga, which lies close to the Estonian border.

"Our plan of long-range sanctions against Russia for this war is being implemented, and it is important that Russia’s war potential be reduced," Zelensky stated.

Ukrainian national media offered this as a backgrounder:

The “Progress” Rocket and Space Center is one of the key enterprises in the Russian Federation’s rocket and space industry, producing launch vehicles of the “Soyuz” family. These are used to launch Russian spacecraft for military, reconnaissance, and communications purposes into orbit.

In particular, the “Soyuz-2.1b” is used to deploy the Russian “Rassvet” satellite constellation – a broadband satellite communications system that Russia positions as an analogue to Starlink.

The Progress Rocket and Space Center also manufactures Earth observation satellites, which the enemy uses for reconnaissance purposes.

Russia also attacked Ukraine overnight, as has long been the norm. Over 150 Russian drones were sent on the country, with Ukrainian forces claiming shootdown or neutralization of 124 of these, according to a military statement.

Ukraine has struck a facility used in the production of Russia’s new satellite internet system.

Kyiv deployed Flamingo cruise missiles to target the Progress Rocket Space Centre in Samara, south-western Russia, in an overnight attack, Volodymyr Zelensky said on Saturday ⤵️… pic.twitter.com/eoalkZcMgz

— The Telegraph (@Telegraph) August 15, 2026

The fresh onslaught resulted in dozens of injures. As for potential casualties inside Russia, little is yet known of this in terms of secretive space and airbase facilities targeted.

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Ukraine Hits Key Russian Space Facility With Flamingo Cruise Missiles