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 $37.50 higher to $3442.50 at 8:38:39 AM
- (Bloomberg) – Aluminum rose on supply disruptions triggered by the war in the Middle East, with offer prices in Japan climbing to an 11-year high. Three-month futures topped $3,400 a ton, just below a four-year peak hit on Monday. That came after the conflict forced production cuts in the Middle East, which accounts for about 9% of global output. The Strait of Hormuz remains effectively shut, preventing exports of finished products getting out. Rio Tinto Group on Tuesday offered to supply the metal at a premium of $350 a ton to Japanese buyers for second-quarter shipments, according to people familiar with the talks. If agreed, that would be the highest since 2015. Commodities markets have been roiled this week, as the Trump administration sent mixed messages on the duration of the war with Tehran. On Tuesday, US officials signaled military operations were escalating against Iran and there was little chance of diplomatic talks, throwing cold water on President Donald Trump’s suggestion that the conflict could be resolved soon. In a further indication of stress in the market, orders to withdraw stockpiles from the LME’s warehouse network have surged, driven by requests in Malaysia.
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LME Copper 3M Select trades $-188.25 lower to $12954 at 8:38:40 AM
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CME HRC Steel last traded at $1009 and $-9 lower at 8:50:35 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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