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 $-46.50 lower to $3311 at 8:43:04 AM
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LME Copper 3M Select trades $-486.50 lower to $14280.50 at 8:43:08 AM
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(Bloomberg) – Copper slumped more than 3% in London after Reuters reported that a US government decision on whether to impose tariffs has stalled amid inflation concerns. Prices for the industrial metal had hit a fresh record of $14,875 a ton earlier in the session, with expectations that the US may adopt import duties on refined metal fueling a sharp rally this year. Delays on a decision come as officials weigh concerns that higher prices for the red metal could raise manufacturing costs against the potential benefits of encouraging more domestic mining, Reuters reported on Thursday, citing two unidentified people familiar with the matter. The hesitation comes as the Trump administration becomes increasingly focused on affordability ahead of the November midterm elections, the report said. President Donald Trump’s stance on tariffs has been a key point of uncertainty in the copper market, and introducing the levies could fuel a final rush of US imports before they come into effect, straining availability for buyers elsewhere and lending further support to global benchmark prices on the LME. Conversely, Natixis SA analysts have warned that prices could fall sharply if no new tariffs are applied. “We highlight the risk of a bubble,” Natixis analyst Bernard Dahdah wrote in a note on Wednesday. “Prices are currently being driven by US import arbitrage opportunities and fast money, rather than fundamentals and end-consumer demand.”
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CME HRC Steel last traded at $1235 and $1 higher at 6:00:00 PM
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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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