| Base metals declined this week as concerns about an economic slowdown weighed on asset prices. Traders are racing to ship copper to the US before President Trump imposes import tariffs, which could be introduced within weeks. Copper prices retreated from a nine-month high. |
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LME Aluminum |
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LME Aluminum 3M settled at $2,547.50/mt, down $75/mt on the week.
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LME Copper |
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LME Copper 3M settled at $9,794.50/mt, down $61/mt on the week.
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LME Nickel 3M settled at $16,380/mt, up $323/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 $893/T, up $118/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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