One of the reasons for the recent market volatility was the rising odds of a recession in the US. 

Copper is often regarded as a leading indicator for the global economy because it is used in so many industries. Interestingly, the copper price peaked in May and has fallen as much as 22% since then. 

In the short term, it appears that copper supply is overwhelming demand, and that may be a warning sign for the global economy. But the longer-term picture is very different with a potential supply deficit on the horizon.