September 26, 2025 10:53 AM GMT metal&ROCK | Europe Copper Disrupted: Upside Risks Rising A supportive macro backdrop and an increasingly challenged supply side bring upside risks to copper. YTD disruptions are now almost at 5%, with 3 months of the year still remaining. However, demand destruction remains a risk, with signs of price sensitivity above $10k/t, particularly from China. Key Takeaways Source: Woodmac, Morgan Stanley Research estimates. Morgan Stanley does and seeks to do business with companies ...