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- LME Aluminum 3M Select trades $1.75 higher to $2989 at 9:34:37 AM
- LME Copper 3M Select trades $-178 lower to $14313 at 9:34:39 AM
- (Bloomberg) – Copper declined with other base metals after stronger-than-expected US consumer prices spurred bets on more aggressive tightening by the Federal Reserve. A risk-off tone is sweeping markets — with technology stocks bearing the brunt — after data on Wednesday showed US inflation running at the fastest pace in five months. The US inflation print raises the odds of more interest rate hikes by the Fed in coming months to cool the economy, an outcome that’s potentially negative for metals by hurting demand and raising manufacturing costs. Copper reached a record high last month but has since wavered amid uncertainty over the Fed’s pathway. “The US CPI data was well beyond forecasts, strengthening inflation expectations and pressuring copper prices,” Guangzhou Futures wrote in a note. Other metals also fell on the LME, with aluminum touching its lowest since last year. Copper is still up more than 15% in 2026 after a huge flow of metal to the US — ahead of anticipated import tariffs — left markets elsewhere underserved. But optimism over demand from artificial intelligence infrastructure has also spurred copper bulls, leaving the metal exposed to headwinds in that sector. AI stocks were among the biggest losers on Thursday as investors rushed from risk. South Korea’s equity benchmark fell nearly 8%, slumping into a bear market as investors grew nervous about the sustainability of spending on the technology. A decline for copper at the close would mark the metal’s third daily drop — the longest such stretch since June. Mining equities also slumped, with BHP Group shedding more than 3% in London while Antofagasta Plc dropped 7% after output missed estimates. Copper’s downward move also reflects easing concerns over immediate supply disruptions. BHP reached a preliminary agreement with employees to avert a strike at the huge Escondida mine in Chile — although that’s still subject to union approval. Chile’s copper output has struggled this year. “We expect the firm dollar and renewed rate pressure to keep the complex defensive, with copper’s remaining supply risks offering only very limited support,” analysts from Sucden Financial wrote in a note. The Bloomberg Dollar Index climbed to its highest since May 2025 on Wednesday.
- CME HRC Steel last traded at $1285 and $9 higher at 10/14/2026
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