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 $-34.50 lower to $3150 at 8:40:34 AM
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LME Copper 3M Select trades $-190.75 lower to $13407 at 8:40:34 AM
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(Bloomberg) – Copper and other base metals retreated on Friday, tracking losses in equity markets as investor worries about the valuation of artificial-intelligence companies grow. Prices for the bellwether industrial metal dropped as much as 1.6% on the London Metal Exchange as a global selloff in chipmakers gathered pace. Copper has become tightly correlated with AI-linked stocks in recent months, with investors betting on booming usage in data centers and associated power infrastructure. Chipmakers are under growing scrutiny over whether massive gains fueled by the buildout of AI have run too far to justify their elevated valuations. Those concerns were amplified on Friday after a surprise breakthrough from Chinese AI startup Moonshot, which released a new model that it says rivals the strongest offerings from industry leaders OpenAI and Anthropic PBC.
Meanwhile, another day of attacks and counterstrikes in the Middle East also weighed on sentiment, with a further rise in oil prices fanning fears about inflation. A growing chorus of Federal Reserve officials are warning the central bank may soon need to lift rates, which would raise borrowing costs for manufacturers. Although softer-than-expected US inflation figures this week have eased expectations of an immediate hike, the renewed hostilities across the Middle East are fanning price concerns, as well as threatening global economic growth and the outlook for industrial commodities.
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CME HRC Steel last traded at $1154 and $0 lower at 7/16/2026
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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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