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- LME Aluminum 3M Select trades $16 higher to $3064.50 at 8:37:46 AM
- LME Copper 3M Select trades $124 higher to $14663.50 at 8:37:49 AM
- (Bloomberg) – Copper rose to a two-week high as traders looked to a more hopeful outlook for interest rates and gauged the impact on supply of a fatal mine incident in Chile. Prices gained as much as 1%, amid some optimism that central banks could hold off on further rate hikes to rein in energy-led inflation because higher bond yields are tightening financial conditions anyway. That’s even as investors weighed geopolitical risks stemming from an escalation in hostilities in the Middle East, and while awaiting the mid-week release of US inflation data. Higher borrowing costs typically reduce the appeal of non-yielding commodities. Worries over supplies are also mounting. The cash price of copper reached a premium of $170 a ton to benchmark three-month prices on Monday, the highest since the start of September. The condition, called backwardation, usually happens when there’s not enough immediate supply. In Chile, two workers died on Sunday after a snow avalanche struck Codelco’s giant El Teniente copper mine, where open-pit operations had already been halted due to bad weather. It’s the latest setback for the top copper-producing country, where wild weather, accidents, operational setbacks and declining ore quality have weighed on output, while labor tensions are adding to supply risks as copper prices trade near record highs. The supply setback also comes at a time of trade dislocations and growing global demand for the metal. Chinese inventories remain low following a weeklong national holiday, while a gauge of import demand reached a four-year high last week in a sign of potential restocking by buyers in the world’s biggest consumer.
- CME HRC Steel last traded at $1276 and $2 higher at 10/9/2026
Price Indications
Today's Charts
Metals Factor Matrix
AEGIS Factor Matrices: Most important variables affecting metals prices
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