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- LME Aluminum 3M Select trades $-10 lower to $3249.50 at 8:27:18 AM
- LME Copper 3M Select trades $166.50 higher to $12264 at 8:27:22 AM
- (Bloomberg) – Copper and most other metals rose as optimism around Washington’s diplomatic push to end the war in the Middle East boosted risk appetite. The industrial metal climbed as much as 2% on the London Metal Exchange Wednesday. The US drafted a 15-point plan intended to help bring the war with Iran to a close, while China has urged Tehran to engage in talks. Iran has yet to comment on the proposal. Trump’s comments were enough to push metals higher though, arresting a slide that’s been driven by worries the war will boost inflation and slow global economic growth. Copper is up nearly 3% so far this week after falling about 11% over the previous three weeks. Aluminum was the only metal that fell on the LME on Wednesday, paring its gains since the war started to 3.5%. Goldman Sachs Group Inc. raised its second-quarter price forecast to $3,200 a ton from $3,100, saying in a note that supply disruptions would be partially offset by weaker global demand.
- CME HRC Steel last traded at $1033 and $-8 lower at 8:36:10 AM
Price Indications
Today's Charts
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AEGIS Factor Matrices: Most important variables affecting metals prices
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