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- LME Aluminum 3M Select trades $36.75 higher to $3140 at 8:33:12 AM
- LME Copper 3M Select trades $23 higher to $13185 at 8:33:12 AM
- (Bloomberg) – Copper prices look too elevated, pricing in tighter supply and more economic growth than current balances justify. Monthly balances show global refined supply at roughly 2.40 million tons in November against refined demand near 2.30 million tons, according to Bloomberg Intelligence data, leaving a surplus of about 100,000 tons. Sustained strength in copper prices would normally be read as confirmation of firm global manufacturing activity and accelerating investment tied to energy and digital infrastructure. However, with the market still in monthly surplus, copper reflects expectations of stronger future industrial demand. The refined market remains in surplus, so the market is effectively pricing a sizeable pickup in global manufacturing that is not yet visible in the data.
- CME HRC Steel last traded at $980 and $4 higher at 5:42:57 AM
Price Indications
Today's Charts
Metals Factor Matrix
AEGIS Factor Matrices: Most important variables affecting metals prices
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