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- LME Aluminum 3M Select trades $-89.50 lower to $3142.50 at 8:36:56 AM
- LME Copper 3M Select trades $-144.50 lower to $13226 at 8:37:00 AM
- (Bloomberg) – Copper and industrial metals largely held Tuesday’s slump as a stronger dollar and the Federal Reserve’s hawkish stance weighed on the demand outlook. The likelihood of higher rates to counter inflation is a headwind for all risk assets, while a rising dollar compounds the impact on commodities priced in the greenback. New Federal Reserve Chair Kevin Warsh set a hawkish tone at his first rate-setting meeting last week, where policymakers signaled growing support for higher borrowing costs while leaving rates unchanged. The outlook jolted investors and offset the positive impact from an interim US-Iran peace deal that’s allowed commercial vessels to move in greater numbers through the Strait of Hormuz.
- CME HRC Steel last traded at $1156 and $-2 lower at 8:23:25 AM
Price Indications
Today's Charts
Metals Factor Matrix
AEGIS Factor Matrices: Most important variables affecting metals prices
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