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 $10.75 higher to $3150 at 8:38:23 AM
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(Bloomberg) – Base metals retreated after renewed hostilities between the US and Iran fueled concerns over global economic growth, clouding the outlook for industrial commodities. The latest flare-up has raised fears of higher energy costs and prolonged supply disruptions from the Persian Gulf stoking inflation, resulting in interest-rate hikes. Investors are awaiting US inflation data this week for clues on the Federal Reserve’s policy path. The status of shipping through the Strait of Hormuz remains unclear. Traffic through the channel was almost nonexistent on Monday, after the Islamic Republic’s forces launched retaliatory drone and missile assaults on American allies in the region. The US said it is prepared to ensure freedom of navigation through the critical waterway, even as Iran declared it closed “until further notice.” Rate hike expectations have diverged, leading to higher market volatility, due to the escalation in tensions again, Galaxy Futures wrote in a note on Monday. Still, fundamentals for copper remain “relatively healthy” for long-term prices, supported by supply outlook and demand from AI and energy storage, it said. Copper, seen as a proxy for global growth, has traded in a tight range since the US and Iran reached an interim peace agreement last month. Traders have raised bets on further tightening with swaps pricing in almost 40 basis points of Fed rate hikes by December, up from about 15 basis points in early June. Higher borrowing costs for manufacturers typically hamper demand for industrial metals.
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LME Copper 3M Select trades $23.75 higher to $13508 at 8:38:37 AM
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CME HRC Steel last traded at $1158 and $3 higher at 7/10/2026
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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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