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 $31 higher to $3498 at 8:24:50 AM
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(Bloomberg) – Copper rose after US President Donald Trump said the war on Iran could end within two to three weeks, sparking a relief rally for riskier assets battered by global growth fears. Base metals — with the exception of aluminum — faced heavy downward pressure in March as hostilities in the Middle East disrupted commodity supplies and threatened an inflationary shock for the world economy. There have also been signs of improving demand in the crucial Chinese market, especially after prices for the metal dipped below $12,000 a ton in the second half of March. Premiums for imports — a gauge of immediate appetite for the metal — rose to a nine-month high last week and stockpiles inside China have fallen sharply. In the aluminum market, traders remain on edge as they await details on two Middle Eastern plants hit by Iranian missiles and drones at the weekend. Emirates Global Aluminium, the region’s top producer, said its facilities had suffered “significant damage,” while Aluminium Bahrain said it was assessing the extent of the impact. That fueled big gains for the metal this week. EGA has moved to sell large volumes of alumina — the key raw material needed to make aluminum — following the strikes, Bloomberg reported on Wednesday. The attacks have created fresh risks to supply in the region, adding to production cuts at smelters that are facing shortages of raw materials flowing through the Strait of Hormuz.
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LME Copper 3M Select trades $15 higher to $12350.50 at 8:24:50 AM
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CME HRC Steel last traded at $1047 and $-1 lower at 8:21:27 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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