AEGIS Hedging - Metals First Look
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LME Aluminum 3M Select trades $15.25 higher to $3180 at 8:22:09 AM
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(Bloomberg) – Aluminum headed for a fourth weekly decline, the longest losing streak since April 2025, as a renewed selloff in Asian tech stocks added to pressure from a stronger US dollar and returning Middle East supplies. The light metal was on track to lose around 7% for the week, as the interim US-Iran peace deal fueled expectations of renewed shipments from a region that accounts for nearly a 10th of global production. The war has shuttered local smelters and choked shipments of metal and raw materials in and out of the Persian Gulf. Still, an attack on a cargo ship Thursday renewed concerns about safe passage through the Strait of Hormuz and fueled uncertainty about future transits. Industrial metals including copper were also hit Friday by a renewed selloff in Asian tech shares, underscoring the heightened volatility that has gripped the sector this week. Metals often move in tandem with technology stocks due to their applications in electronics, wiring and AI-driven data centers. Aluminum will continue to fluctuate at a weak level, kept in check by bearish short-term macro sentiment, brokerage Jinrui Futures Co. said in a note. Adding to the pressure on metals earlier in the week, US Federal Reserve policymakers signaled growing support for interest-rate hikes in the coming months. Higher borrowing costs are a headwind for commodities that don’t pay interest, making them a less attractive investment than yield-bearing assets like Treasuries. Renewed dollar strength has also made metals priced in the US currency more expensive for most buyers. A gauge of the greenback was on track to gain around 0.7% this week.
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LME Copper 3M Select trades $24.75 higher to $13292.50 at 8:22:14 AM
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CME HRC Steel last traded at $1153 and $-2 lower at 7:56:34 AM
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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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