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 $8 higher to $3145.50 at 8:07:22 AM
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LME Copper 3M Select trades $-207.50 lower to $13159 at 8:07:23 AM
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(Bloomberg) – Copper dropped as President Donald Trump said the ceasefire with Iran is over, following on from a new wave of strikes against the Middle Eastern country. Prices fell as much as 1.4% in the wake of Trump’s comments at the annual NATO summit in Ankara. The US earlier launched strikes against Iranian sites after three ships were attacked in the Strait of Hormuz, apparently by Iran. The developments marked the most serious threat to the interim peace deal. The comments took copper toward the low end of a narrow trading range seen since the interim peace deal was signed. The deal eased concerns that the Federal Reserve will raise interest rates to counter the war’s inflationary impact, but the ongoing hostilities continue to weigh on risk appetite and the broad macroeconomic outlook. Stock markets dropped after Trump’s comments, while oil prices rallied. Aluminum — which was rocked by disruptions to Middle Eastern supplies at the outbreak of the war — was up 0.5%, climbing for a third day. Inventories in warehouses tracked by the LME have slumped during the war, reaching the lowest since 2022 on Wednesday. Holdings in China have also plunged a quarter from their April peak. “Smooth destocking both in China and overseas reflected strong buying from fabricators to replenish inventories,” Everbright Futures Co. said in a note.
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CME HRC Steel last traded at $1155 and $0 lower at 7/7/2026
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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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