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 $14 higher to $3105 at 8:36:18 AM
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(Bloomberg) – Aluminum rose from near a four-month low, even as Goldman Sachs Group Inc. warned that supply from Middle Eastern smelters is rebounding more quickly than expected. Prices climbed as much 1.1% in London, with metals benefiting as some Chinese funds shifted into metal stocks and futures in anticipation of solid first-half earnings for producers, said Wu Kunjin, head of base metals research at Minmetals Futures Co. The metal’s 14-day relative-strength index also recently moved into oversold territory, a sign to some that prices could be poised for a rebound. Aluminum producers’ margins surged in the second quarter as prices jumped following disruptions to Middle Eastern supplies, but the rally has since reversed as the US-Iran peace deal put the focus on a recovery in the region’s supply. Last week, top regional producer Emirates Global Aluminium said it aims to speed up the resumption of output at its Abu Dhabi facility that was damaged during the war. “The latest industry feedback also points toward a faster Middle East supply recovery more broadly,” Goldman Sachs analysts led by Lavinia Forcellese said in a note, as the bank cut its price forecasts for the metal. “We expect inventories to rebuild into 2027, driving smelter margins to normalize from recent high levels.”
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LME Copper 3M Select trades $-20 lower to $13347 at 8:36:31 AM
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CME HRC Steel last traded at $1156 and $-3 lower at 7/2/2026
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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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