Copper Prices - Mar 19

[dan_s]

https://tradingeconomics.com/commodity/copper

Copper futures surged past the key $5 per pound level on Wednesday, reaching fresh ten-month highs as the spot market continued to reflect supply tightness, with inventories in both London and Shanghai exchanges declining.
> On the demand side, optimism grew after China unveiled a special action plan aimed at boosting consumer spending, improving the economic outlook for the world’s top copper consumer. < China's new strategy to stimulate their economy will also increase demand for oil.
> Further supporting prices were expectations that US President Donald Trump may impose tariffs on copper imports, a move that could strain the already limited capacity of domestic smelters.
> Currently, the US imports nearly half of its copper supply, relying on just two major smelters for domestic production.
> While reports suggest these tariffs could take effect later this year, the White House’s recent escalation of base metal tariffs on Canada has raised concerns that copper levies may be implemented sooner than anticipated.
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The CEO of Mundoro Capital (MUN.V), Teodora Dechev, recently told me that there has been an increased level of interest in their copper projects.
Read more here: https://finance.yahoo.com/news/mundoro-announces-2024-portfolio-highlights-160200701.html