AEGIS Hedging - Metals First Look
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Note: Clients with AEGIS Platform access can see this and other research, plus hedge portfolio reporting and tools here.
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LME Aluminum 3M Select trades $45.75 higher to $3519.50 at 8:38:36 AM
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(Bloomberg) – Aluminum gained, with traders seeing little prospect of an imminent opening of the Strait of Hormuz that would ease availability of the metal. US President Donald Trump vowed to maintain a naval blockade on Iran and was briefed by commanders on further military options, according to a report. Iran said the blockade would have to end for the Strait of Hormuz to be reopened. “We are in a very large supply hole here,” Greg Shearer, head of base and precious metals research at JPMorgan Chase & Co., told Bloomberg TV. Prices are likely to hit $4,000 a ton even if the strait is reopened, he said, given the length of time required for smelters to restart and supplies to come back online. Other base metals were mostly higher on Friday, as China’s metal fabricators restocked before the start of the country’s week-long holiday, which kept prices of key commodities buoyant. Markets were also closed in a number of other nations, including trading hub Singapore, for Labor Day. Copper prices remained over $13,000 a ton.
Meanwhile, economic data overnight from the US showed gross domestic product expanded at a 2% annual rate over the first quarter, lifting sentiment about the health of the world’s largest economy.
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LME Copper 3M Select trades $16.75 higher to $13000.50 at 8:38:39 AM
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CME HRC Steel last traded at $1081 and $-1 lower at 4/30/2026
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Price Indications
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Today's Charts
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Metals Factor Matrix
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AEGIS Factor Matrices: Most important variables affecting metals prices
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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.
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