Copper Prices hitting record levels - March 21

[dan_s]

Trading Economics:
Copper futures in the US rose toward the $5.10 per pound mark on Friday, testing record-high levels, and trading near record-high premiums to LME futures of over $0.50 per pound, as the risk of tariffs on copper by President Trump stressed capacity for domestic smelters. The President signed an executive order to initiate a review on copper imports after noting he would tariff the metal in an earlier speech before Congress.
Such a move would increase dependency on domestic capacity, which is limited to only two major smelters, as the US imports nearly half of its copper.
In the meantime, demand from top consumer China remained underpinned by a pickup in manufacturing activity and pledges of wider deficit spending by the government.
Along with shifting of metal to take advantage of global contract spreads, the Yangshan Copper Premium, which measures the premium on LME contracts to import physical copper to China, more than doubled since the start of March to $70 per tonne.

Good news for Mundoro Capital Inc. (MUN.V)