AEGIS Hedging - Metals First Look
 |
| |
Note: Clients with AEGIS Platform access can see this and other research, plus hedge portfolio reporting and tools here.
|
-
LME Aluminum 3M Select trades $-85 lower to $3314 at 8:10:15 AM
-
LME Copper 3M Select trades $-361.50 lower to $12032.50 at 8:10:19 AM
-
(Bloomberg) – Copper gave up its gains for this year as the worsening war in the Middle East pushed energy prices higher and increased the risk of damage to the global economy. There were broad declines across industrial metals in London after Iran and Israel traded strikes on energy facilities in the Middle East. Iran targeted the world’s biggest liquefied natural gas plant after Israel hit Iran’s South Pars gas field, prompting European gas and Brent prices to surge. Copper, which started this year in bullish form and reached an all-time high in late January, has dropped more than 9% this month on the London Metal Exchange. Metals traders are weighing the potential for supply disruptions — especially in the aluminum market — against the threat to manufacturing activity worldwide if the conflict triggers a broader economic slowdown. Chinese metals demand was already soft before the US and Israel attacked Iran. However, the metals rout might also help to stimulate some buying, especially among Chinese consumers who had balked at high prices earlier this year. Stockpiles of aluminum and copper in China had surged.
-
CME HRC Steel last traded at $1013 and $-1 lower at 5:42:15 AM
|
|
Price Indications
|
|
|
|
|
Today's Charts
|
 |
 |
 |
 |
Metals Factor Matrix
|
|
AEGIS Factor Matrices: Most important variables affecting metals prices
|
|
|
|
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.
|
