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- LME Aluminum 3M Select trades $65 higher to $3567 at 8:31:43 AM
- LME Copper 3M Select trades $130 higher to $13703.50 at 8:31:43 AM
- (Bloomberg) – Copper headed toward its highest close ever — and other metals advanced — as traders shrugged off the apparent deadlock between the US and Iran to join a broader rally for risk assets. All main contracts on the London Metal Exchange posted gains, after the bourse’s combined gauge of prices ended Friday on a record high. Metals from copper to zinc have been resilient in the face of the Middle East war, partly thanks to signs of demand outstripping supply. Last week’s upward momentum carried into Monday despite US President Donald Trump rejecting Iran’s latest peace proposal as “totally unacceptable,” with the two sides far apart on a framework to end the conflict. Metals rose as equities steadied, suggesting investors aren’t greatly concerned about a serious escalation. Demand for metals for the energy transition and defense, coupled with supply headwinds, will boost copper’s resilience in a worst-case scenario that entails a prolonged closure of the Strait of Hormuz, according to Citigroup Inc. analysts.
- CME HRC Steel last traded at $1078 and $2 higher at 5/8/2026
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