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 $14 higher to $3674 at 8:55:10 AM
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(Bloomberg) – The aluminum market is facing a deepening shortage as the closure of the Strait of Hormuz throttles supply, with spot prices for the metal spiking while exchange inventories slump. Aluminum buyers globally have been rocked by the conflict in the Gulf, which accounts for nearly 10% of global supply. While there is renewed optimism about a resolution to the tensions, the prolonged shutdown of the strait and the direct attacks on smelters in the region have prompted warnings that the industry is facing its biggest shortages in decades. There were fresh signs of supply stress on Friday, as spot aluminum prices surged to a $97-a-ton premium to three-month futures on the London Metal Exchange, reaching the highest level since 2007. Combined stockpiles tracked by the LME, CME Group, and the Shanghai Futures Exchange would cover global supply for less than five days, according to Bloomberg calculations. That’s the lowest level of cover of the six main metals traded on the LME, and represents a major shift for an industry that’s historically been plagued by oversupply. Prices hit a four-year high above $3,700 a ton earlier in the week, and banks including JPMorgan and Citigroup have predicted a move to $4,000 a ton.
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LME Copper 3M Select trades $-53.75 lower to $13649 at 8:55:13 AM
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CME HRC Steel last traded at $1126 and $-1 lower at 5/28/2026
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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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