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- LME Aluminum 3M Select trades $-43.50 lower to $3299.50 at 8:16:56 AM
- LME Copper 3M Select trades $-193 lower to $12863.50 at 8:16:56 AM
- (Bloomberg) – Copper dropped below $13,000 a ton as inventories tracked by the London Metal Exchange hit a 16-month high on the back of a surge in deliveries into US warehouses. Prices for the bellwether industrial metal were down about 1.1% by mid-morning in London, after LME stockpiles jumped 7.9% to 282,200 tons, the highest level since October 2024. Exchange stockpiles have surged since the start of the year, creating a bearish headwind in the market after a sharp rally that lifted prices to all-time highs above $14,500 a ton in January. Comex contracts had been trading at huge premiums due to expectations that the Trump administration would impose tariffs on imports of primary copper. But recently some analysts have expressed skepticism that the levies will be introduced, particularly after the US in January decided not to push ahead with broad tariffs on critical minerals.
- CME HRC Steel last traded at $1014 and $-2 lower at 3/4/2026
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