Base Metals Sharply Lower on Equities Selloff

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• LME Aluminum 3M Select trades $-100.50 lower to $3263.50 at 8:29:46 AM

  • (Bloomberg) – Aluminum tumbled by more than 4%, and other metals posted sharp declines, after a bearish turn for equities weighed on sentiment in commodities markets.  Global stocks slumped as investors rotated out of technology stocks and investors mulled further hawkish comments from a Federal Reserve official. Metals have been keyed to shifts in equities markets in recent months as investors bet on growing demand from artificial intelligence and power infrastructure.  That backdrop piled pressure on metals, with all main contracts on the London Metal Exchange sharply lower.  The US issued a 60-day license allowing Iran to sell oil on the international market, offering economic relief to Tehran and signaling relatively smooth negotiations. Traders are monitoring how quickly flows of aluminum can recover from the Middle East, a major supplier until the war began in late February.  “Geopolitical risks have eased with agreements signed between the US and Iran,” Chaos Ternary Futures Co. said in a note. “The Strait of Hormuz is likely to open, fueling expectations for resumption of aluminum smelters in the Middle East.”  For the broader metals complex, inflation fears and the likelihood of higher interest rates also pose downside risks. Federal Reserve Bank of Chicago President Austan Goolsbee said Monday he was concerned about inflation, following hawkish comments last week from Fed Chair Kevin Warsh.

• LME Copper 3M Select trades $-277.75 lower to $13372 at 8:29:55 AM

• CME HRC Steel last traded at $1120 and $0 lower at 6/22/2026

Price Indications

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