Note: Clients with AEGIS Platform access can see this and other research, plus hedge portfolio reporting and tools here.
- LME Aluminum 3M Select trades $-33.50 lower to $3236 at 8:12:13 AM
- LME Copper 3M Select trades $-23.75 lower to $12122 at 8:12:14 AM
- (Bloomberg) – Copper steadied — heading for its first weekly gain this month — amid signs of rebounding Chinese demand and optimism that efforts to end the Middle East conflict could bear fruit and prevent a global growth slowdown. Most industrial metals are down this month on expectations war-driven inflation will hurt the global economy. Aluminum has been the exception, given that the effective closure of the Strait of Hormuz has throttled about 9% of all supply. Investors are also monitoring the extent of a recovery in Chinese copper demand. The price slump has boosted orders from fabricators, and inventories held in Shanghai Futures Exchange warehouses this week posted the second-biggest decline on record. For aluminum, Japanese buyers agreed to pay the highest premium in 11 years after the Iran war disrupted supplies, a cost that’s likely to stoke inflationary pressure at the factories which use the metal.
- CME HRC Steel last traded at $1043 and $-2 lower at 7:20:15 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.