Our next Houston luncheon is set for January 13th at Maggiano's on Post Oak Blvd.
The CEO of Mundoro Capital, Teo Dechev will make a presentation about how bullish the copper mining sector potential is under the Trump Administration. Teo is one of the smartest women I've ever met. She is an expert on the global copper market.
Mundoro Capital website: https://www.mundoro.com/
January 13th Luncheon: Mundoro Capital (MUN.V)
January 13th Luncheon: Mundoro Capital (MUN.V)
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: January 13th Luncheon: Mundoro Capital (MUN.V)
Trading Economics
Copper futures in the US slipped to around $5.30 per pound, retreating from four-month highs as investors weighed demand uncertainties from top consumer China. The nation's top leaders signaled that boosting domestic demand will be a priority in 2026, while taking a measured approach to stimulus, balancing calls for looser fiscal and monetary policy with financial risk management. Despite this, copper prices remained near their highest levels in over four months, supported by ongoing supply disruptions and fears of a supply squeeze in the London market. Large withdrawals from LME warehouses last month were likely driven by concerns over potential US levies on refined copper next year. Prices also drew support from expectations of a 25 basis point rate cut by the US Federal Reserve this week, with 2–3 more cuts anticipated in 2026.
Copper futures in the US slipped to around $5.30 per pound, retreating from four-month highs as investors weighed demand uncertainties from top consumer China. The nation's top leaders signaled that boosting domestic demand will be a priority in 2026, while taking a measured approach to stimulus, balancing calls for looser fiscal and monetary policy with financial risk management. Despite this, copper prices remained near their highest levels in over four months, supported by ongoing supply disruptions and fears of a supply squeeze in the London market. Large withdrawals from LME warehouses last month were likely driven by concerns over potential US levies on refined copper next year. Prices also drew support from expectations of a 25 basis point rate cut by the US Federal Reserve this week, with 2–3 more cuts anticipated in 2026.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: January 13th Luncheon: Mundoro Capital (MUN.V)
Copper closed over $5.50/pound on December 23, the highest since the threat of tariffs on copper inputs by US President Trump lifted futures to a record high of $5.80 in July, amid persistent supply concerns.
> The US President revisited earlier pledges to tariff key industrial metals and pledged to put duties on commodity-grade copper by next year. Such measures would add to the current 50% tariffs on semi-finished copper goods, which triggered a selloff in US contracts after the unveiled measures excluded broader copper grades in cathodes, anodes, and concentrates.
> Lower mined output also supported the rally this month. Notably, Freeport-McMoRan's Grasberg mine in Indonesia, responsible for 3% of global supply, suspended operations after a fatal incident, while output may slow in Chile and Peru due to protests.
> Consequently, Chilean state-miner Codelco offered record-high prices to Chinese buyers, forcing Chinese smelters to accept zero treatment charges next year.
Seating is limited for our January 13th luncheon, so register early.
Teodora Dechev B.A.Sc., MBA, P.Eng. President, CEO & Director of Mundoro Capital is going to be the speaker at the luncheon. She is an expert on the copper market. Read her bio at this link: https://www.mundoro.com/team-members/teo-dechev
> The US President revisited earlier pledges to tariff key industrial metals and pledged to put duties on commodity-grade copper by next year. Such measures would add to the current 50% tariffs on semi-finished copper goods, which triggered a selloff in US contracts after the unveiled measures excluded broader copper grades in cathodes, anodes, and concentrates.
> Lower mined output also supported the rally this month. Notably, Freeport-McMoRan's Grasberg mine in Indonesia, responsible for 3% of global supply, suspended operations after a fatal incident, while output may slow in Chile and Peru due to protests.
> Consequently, Chilean state-miner Codelco offered record-high prices to Chinese buyers, forcing Chinese smelters to accept zero treatment charges next year.
Seating is limited for our January 13th luncheon, so register early.
Teodora Dechev B.A.Sc., MBA, P.Eng. President, CEO & Director of Mundoro Capital is going to be the speaker at the luncheon. She is an expert on the copper market. Read her bio at this link: https://www.mundoro.com/team-members/teo-dechev
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group