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Base metals slid this week, with Copper, aluminum and zinc extending declines as traders waited to see the extent to which US President Donald Trump will follow through on his World Economic Forum, Davos 2025 threats to target nations including China with tariffs. |
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LME Aluminum |
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LME Aluminum 3M settled at $2,684.50/mt, up $113.00/mt on the week.
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LME Copper |
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LME Copper 3M settled at $9,190.50/mt, up $98.50/mt on the week.
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LME Nickel 3M settled at $16,097/mt, up $439/mt on the week. |
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CME Hot Rolled Coil (HRC) Steel |
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Prompt month HRC Steel last traded/settled at $695/T, down $9/t on the week.
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AEGIS Insights |
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11/06/2024: AEGIS Factor Matrices: Most important variables affecting metals prices 4/25/2024: Mexico's New Tariffs on Steel and Aluminum Imports Create Uncertainty in U.S. Markets 2/27/2024: Aluminum Consumers Should Still Implement Hedges, Even Though Russia Sanctions Mean Little |
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Notable News |
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5/29/2024: Anglo rejects BHP's last-ditch attempt to continue takeover talks 5/27/2024: India's NALCO tops Q4 profit estimates on lower input costs 5/24/2024: India's Hindalco beats Q4 profit view as lower costs outpace weak aluminium prices |
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