Base Metals Dashboard - Week Ending February 21, 2025

The base metals complex is set to end the week higher on mounting concerns of trade wars and a generally weaker U.S. dollar, with copper up 0.7% on week and aluminum up 2.3% on week.  Meanwhile, BNP Paribas AM raised its first-quarter average copper price expectations to $9,170 a ton from $8,835 to reflect the rally on U.S. tariff fears but still expects price weakness ahead on demand risks, a stronger U.S. dollar, and improving supply.

LME Aluminum

LME Aluminum 3M settled at $2,688/mt, up $50.50/mt on the week.

LME Copper

LME Copper 3M settled at $9,559/mt, up $82/mt on the week.

LME Nickel

LME Nickel 3M settled at $15,517/mt, up $49/mt on the week.

CME Hot Rolled Coil (HRC) Steel

Prompt month HRC Steel last traded/settled at $778/T, up $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