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- LME Aluminum 3M Select trades $-16 lower to $3027.50 at 8:39:51 AM
- LME Copper 3M Select trades $10.50 higher to $14334 at 8:39:52 AM
- (Bloomberg) – Copper traded in a narrow range as investors weighed signs of demand strength in China against prolonged weakness in artificial intelligence stocks that have moved in tandem with the commodity. The metal used in data centers and power infrastructure steadied in London on Monday, following a selloff last week. Stocks hovered as investors braced for more earnings from tech heavyweights and clues on whether the recent strains on the AI trade will persist. Meanwhile, copper supplies in China remain tight due to falling domestic output and the global flow of metal to the US in anticipation of import tariffs. The Yangshan premium, a gauge of demand for imported copper, extended gains to its highest level in data going back to 2017. A premium of $178 a ton “is the highest absolute price I have seen and leaves the previous high of $152/t during the post-Covid surge, in its dust,” Kieron Hodgson, mining analyst at Peel Hunt LLP, wrote in a note. Investors are also weighing stubbornly high energy prices ahead of the Federal Reserve’s monetary policy meeting on Wednesday. Traders are pricing in a roughly 10% chance that the central bank will raise rates then, although bets of a hike before year-end are much stronger at around 80%. Higher borrowing costs are a headwind for economic growth and commodities demand.
- CME HRC Steel last traded at $1292 and $6 higher at 10/23/2026
Price Indications
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