AEGIS Hedging - Metals First Look
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LME Aluminum 3M Select trades $20.50 higher to $3261.50 at 8:40:35 AM
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LME Copper 3M Select trades $148 higher to $14256 at 8:40:37 AM
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(Bloomberg) – Copper prices rallied towards a record after Reuters reported that the Democratic Republic of Congo has halted exports of copper and cobalt concentrates. Reuters reported that exports of concentrates — a form of semi-processed ore — were banned under a June 29 order signed by Congo’s ministers for mines, foreign trade and the economy. Copper production has surged in Congo over recent years, with massive investments by predominantly Chinese mining companies helping to establish the country as the world’s second-largest producer of the metal. Congo’s copper is typically exported as cathode and other refined forms of the metal. Cobalt is largely exported as hydroxide, a chemical used in production of lithium-ion batteries. The country exported 18,863 tons of copper in concentrate in the first quarter of 2026, according to data from a research unit reporting to Congo’s mining ministry. Copper exports in all forms totaled 823,887 tons. Bloomberg Intelligence senior analysts Alon Olsha and Salma Belmaachi estimate Congo’s move puts less than 1% of global copper supply at risk, saying it “has more bark than bite” and that it “looks more like a tightening of a long-standing waiver regime than a sudden shock.” Copper prices on the LME were trading 1% higher at 12:50 p.m. local time. In other metals, nickel declined to the lowest level since mid-July on renewed speculation that Indonesia will grant a higher ore-production quota to one of the country’s largest mines, potentially boosting supplies. The miner is set to get an additional ore quota of “tens of millions” of tons for the second half, Shanghai Metals Market said, without identifying the producer.
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CME HRC Steel last traded at $1193 and $0 lower at 8/5/2026
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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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