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 $36.75 higher to $3124.50 at 8:17:33 AM
-
LME Copper 3M Select trades $98.75 higher to $13377 at 8:17:34 AM
-
(Bloomberg) – Copper and other base metals climbed as as traders awaited fresh peace talks between the US and Iran and clues on the outlook for US monetary policy. Oil prices remain an important part of the inflation outlook, with the Federal Reserve expected to hike interest rates as soon as September. A more hawkish stance tends to aid the dollar, posing a headwind for raw materials priced in the currency. Copper is down 1.9% so far this month, after posting a record close in May. The prospect of an end to the Middle East conflict has also weighed on aluminum, on track for its steepest monthly loss since 2008, falling by nearly 15%. That wiped out gains made over the previous three months due to the loss of supply from the region that accounts for nearly a 10th of global output. Record exports from China and daring voyages through the strait to replenish alumina reserves have also helped fuel aluminum’s swift reversal. The market has flipped into a contango structure, where prompt prices are cheaper than for later-dated contracts, over the last couple of weeks, signaling concerns over shortages have eased. “Ex-China premiums dropped rapidly following the news of truce deals, signaling supplies are not that tight any more,” said Peng Dinggui, an analyst at Zhongtai Futures Co. “The rapid plunge in aluminum prices caught many investors off guard. It is causing a bit panic in the market. Some Chinese investors expect prices to drop further.” The metals market is also focused on the US administration’s pending review of refined copper imports, which were excluded from last year’s tariffs. Commerce Secretary Howard Lutnick has until Tuesday to deliver an update to President Donald Trump on the US copper market.
-
CME HRC Steel last traded at $1152 and $-4 lower at 6/29/2026
|
|
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.
|
