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- LME Aluminum 3M Select trades $10.75 higher to $3210 at 8:35:53 AM
- LME Copper 3M Select trades $-182.75 lower to $11986 at 8:35:53 AM
- (Bloomberg) – Copper resumed losses after a brief bounce in the previous session, as global inflation and growth concerns triggered by the Middle East war weighed on the metals complex. Hopes of a de-escalation were fading on Tuesday after the Wall Street Journal reported that US allies in the Persian Gulf are inching toward joining the fray. Fighting between Iran and the US-Israeli alliance continued unabated, with Tehran launching overnight missile and drone attacks on the Israeli cities of Eilat, Dimona and Tel Aviv, as well as US bases in the Middle East. Copper has fallen 10% on the London Metal Exchange this month, luring more purchases from China. Inventories in the top metal-consuming country declined sharply over the past week. But downside in prices will be limited by copper’s importance in the global energy transition and higher demand from Chinese fabricators, said Fan Rui, an analyst with Guoyuan Futures Co.
- CME HRC Steel last traded at $1008 and $-1 lower at 5:55:21 AM
Price Indications
Today's Charts
Metals Factor Matrix
AEGIS Factor Matrices: Most important variables affecting metals prices
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