Base Metals Dashboard - Week Ending February 14, 2025

Base metals mostly moved higher this week, as headlines revolving around tariffs continued to drive price action. President Trump's 25% tariffs on steel and aluminum imports have caused volatility including in the U.S. to LME copper premium. prices of copper and other base metals remain vulnerable to either blanket tariffs, or country-specific tariffs that would hit a large proportion of U.S. imports. 

LME Aluminum

LME Aluminum 3M settled at $2,637.50/mt, up $9.50/mt on the week.

LME Copper

LME Copper 3M settled at $9,477.00/mt, up $69.50/mt on the week.

LME Nickel

LME Nickel 3M settled at $15,468/mt, up $288/mt on the week.

CME Hot Rolled Coil (HRC) Steel

Prompt month HRC Steel last traded/settled at $772/T, down $3/t on the week.

AEGIS Insights

11/06/2024: AEGIS Factor Matrices: Most important variables affecting metals prices

4/25/2024: Mexico's New Tariffs on Steel and Aluminum Imports Create Uncertainty in U.S. Markets

3/20/2024: Midwest Premium Buyers Should Hedge While Prices Hover at 3-Year Lows, and Demand Appears To Be Stabilizing

2/27/2024: Aluminum Consumers Should Still Implement Hedges, Even Though Russia Sanctions Mean Little

Notable News

5/29/2024: Anglo rejects BHP's last-ditch attempt to continue takeover talks

5/27/2024: India's NALCO tops Q4 profit estimates on lower input costs

5/24/2024: India's Hindalco beats Q4 profit view as lower costs outpace weak aluminium prices