Red is the New Black. Manic Metals Report 03/12/2025

In the world of commodities red is the new black what do I mean by that the red metal copper could actually be more important to the growth of the global economy than that old black oil was in the last century.Copper is again rocketing news that the London metals exchange copper stops fell in expectations that Trump’s tariffs could increase dramatically the imports of copper into the United states as we mentioned before president trump is talking about building a copper we serve to meet the expectations that demand for copper will surge in the coming years.In fact because of the Trump tariff concerns and the trade threat by the Ontario premier to cut off electricity system supply trump declared a national electric emergency and even though the tensions have cooled just a bit between Trump and Ontario Preiner Doug Ford, the reality is that it’s going to take a lot of copper . In in fact  Copper might be more important than oil in the new economy.
The New York Post reported that Doug Ford Apologizes for threatening to cut off electricity supply to the US and is  calling for an end to the “chaos” to save “millions of jobs.” Ford made assurances that a trade deal would be settled between the two North American nations prior to the April 2 deadline during an interview on WABC’s “Cats & Cosby” — and added a very Canadian “Sorry, eh,” directed toward US citizens.
“I want to apologize to the American people. I spent 20 years of my life in the US, in New Jersey, in Chicago. I love the American people. I absolutely love them”.   Trum[p Loves Mr Ford too. Trump actually seemed to respect the fact that Doug Ford I stood up to him, even though keep it off a lot more than he could actually chew.
And with the trade war tensions it seems like the industrial metals are on the upside while the precious metals like gold are not performing as well normally this time of year gold gains on platinum but the opposite has been true in the last couple of days. In during the turmoil gold has outperformed Bitcoin. Which means if things stabilize Bitcoin may have more upside,
Expect trade tensions to ease the long-term bullishness and copper will not go away and that is why we think that we want to look for opportunities to embrace the red metal,
Seeking Alpha reported that Trump has meanwhile halted a plan to increase steel and aluminum tariffs on Canada to 50%, after Ontario dropped its electricity surcharge. Canada supplies about 23% of steel imports into the U.S, and tariffs have seen the U.S. Midwest aluminum premium surge; it’s up more than 75% since the beginning of the year, ING analysts noted. “More price rises are likely in the near term.”
And the demand for electricity continues to rise. According to the Energy Information Administration Short Term Energy Outlook they expect total U.S. electricity sales will increase by 3% in 2025, led by strong growth in the residential and commercial sectors.
Residential sector growth is mostly related to cold weather during January and February that increased the use of electricity for space heating. Commercial sector growth is being driven by the expansion of data centers.

With more electricity consumption in the EIA forecast this month,  They expect the U.S. electric power sector will generate 3% more electricity this year than it did in 2024, compared with forecast growth of 2% last month. We expect electricity generation will grow by another 1% next year. They expect most of the additional generation compared with last month’s forecast will be supplied by natural gas.

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