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Base metals were mixed this week as uncertainty continues to plague global markets. Equities continued to advance amid hopes that a trade deal between the US and China will be reached soon. The broader market strength helped aluminum and copper post modest gains on the week. |
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LME Aluminum |
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LME Aluminum 3M settled at $2,396.50/mt, up $18/mt on the week.
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LME Copper |
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LME Copper 3M settled at $9,154.50/mt, up $374.50/mt on the week.
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LME Nickel 3M settled at $15,069/mt, up $311/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 $938/T, up $163/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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