Note: Clients with AEGIS Platform access can see this and other research, plus hedge portfolio reporting and tools here.
- LME Aluminum 3M Select trades $-79.75 lower to $3020 at 8:26:07 AM
- (Bloomberg) – Aluminum fell along with other metals as traders reacted to a possible reduction in the scope of US import tariffs on some aluminum and steel products. Prices fell as much as 2.7% on the London Metal Exchange, extending initial losses after the Financial Times reported that President Donald Trump is planning to roll back some levies on concerns the duties are hurting consumers. Trump doubled import tariffs on commodity-grade steel and aluminum to 50% in June, and later expanded them to cover derivative products including cans, cutlery and car parts. The package of levies has disrupted the global market, reducing shipments to the US and raising prices ahead of key midterm elections. Trading activity in China, the world’s biggest metals consumer, has slowed significantly in recent days in the lead-up to the Lunar New Year holidays. Investors are also looking to US inflation figures due later Friday, which will help to shape expectations for the Federal Reserve’s rate path.
- LME Copper 3M Select trades $-111.75 lower to $12764.50 at 8:26:07 AM
- CME HRC Steel last traded at $980 and $0 lower at 5:57:44 AM
Price Indications
Today's Charts
Metals Factor Matrix
AEGIS Factor Matrices: Most important variables affecting metals prices
Important Disclosure: Indicative prices are provided for information purposes only, and do not represent a commitment from AEGIS Hedging Solutions LLC ("Aegis") to assist any client to transact at those prices, or at any price, in the future. Aegis makes no guarantee to the accuracy or completeness of such information. Aegis and/or its trading principals do not offer a trading program to clients, nor do they propose guiding or directing a commodity interest account for any client based on any such trading program. Certain information in this presentation may constitute forward-looking statements, which can be identified by the use of forward-looking terminology such as “edge,” “advantage,” “opportunity,” “believe” or other variations thereon or comparable terminology. Such statements are not guarantees of future performance or activities.