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- LME Aluminum 3M Select trades $-4.25 lower to $3558.50 at 8:20:24 AM
- LME Copper 3M Select trades $-29.50 lower to $13254 at 8:20:24 AM
- (Bloomberg) – Copper drifted lower, paring a strong monthly gain as traders eyed the prospect of peace negotiations between the US and Iran. Most base metals have been whipsawed since the conflict erupted, with prices initially falling due to concerns over the impact of supply chain disruption and slowing economic growth. The copper market is also weighing the prospect for a further rush to import copper to the US, after front-month prices on New York’s Comex exchange rose to a premium of $283 a ton above those on the LME this week, the highest since December. The aluminum market has now likely reached a “metaphorical point of no return for supply in the coming quarters, where no matter what happens regarding transit of material in and out of the Strait of Hormuz in the near term, the global aluminum market will face a serious and prolonged supply outage,” analysts at JPMorgan said in an emailed note this week.
- CME HRC Steel last traded at $1047 and $1 higher at 7:54:41 AM
Price Indications
Today's Charts
Metals Factor Matrix
AEGIS Factor Matrices: Most important variables affecting metals prices
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