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- LME Aluminum 3M Select trades $-41 lower to $3549.50 at 8:57:02 AM
- LME Copper 3M Select trades $262 higher to $13398 at 8:57:09 AM
- (Bloomberg) – Industrial metals rallied alongside mining stocks after President Donald Trump signaled the US is close to winding down the war in Iran. Copper jumped as much as 1.7% on the London Metal Exchange and tin surged more than 6%, after Trump said progress had been made in peace talks. Maritime traffic through the Strait of Hormuz remains at a near standstill, however, with a double blockade of the key waterway still in place. The administration believes it’s close to agreeing on a one-page memorandum to end the war, and expects a response on several key points within 48 hours, Axios reported on Wednesday. Metals have held up relatively well since the US and Israel attacked Iran in late February. While there are worries about the impact on manufacturing activity worldwide, there are also significant threats to supply. Aluminum flows from the Middle East — a major production hub — have suffered, while a shortage of sulfuric acid from the region threatens copper output elsewhere.
- CME HRC Steel last traded at $1080 and $-4 lower at 5/5/2026
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