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- LME Aluminum 3M Select trades $-32.50 lower to $3720.50 at 8:16:41 AM
- LME Copper 3M Select trades $-104 lower to $13938 at 8:16:42 AM
- (Bloomberg) – Copper fell from a three-week high amid pessimism over the outlook for a deal to end the Iran war. Three-month futures dropped below $14,000 a ton, after gaining 3% in the week’s opening two sessions. Tensions remained high in the Middle East amid an uptick in strikes, including an Iranian attack on Kuwait and the US targeting Qeshm Island. Copper has been buffeted by the conflict, which has fueled expectations for rate hikes to combat inflation, a move that stands to dampen demand for industrial metals. Traders are also on alert this month for a US tariff decision that may see the administration impose a duty on copper imports. Ahead of that, stockpiles of the red metal in the country have surged, tightening other markets.
- CME HRC Steel last traded at $1127 and $3 higher at 8:03:06 AM
Price Indications
Today's Charts
Metals Factor Matrix
AEGIS Factor Matrices: Most important variables affecting metals prices
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