Latest Insight
Last Look - Oil prices rise, but post weekly loss on tariffs and OPEC+ production plans
| The rally over the past week reflects a weaker U.S. dollar, President Trump's copper tariff comments, and renewed China growth optimism. Chinese Premier Li Qiang said China has set an economic growth goal of around 5% for 2025 despite trade war volatility, and the country has continued to hint at further stimulus support, SP Angel writes. This has boosted expectations for industrial metal demand going forward. |
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LME Aluminum |
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LME Aluminum 3M settled at $2,705.50/mt, up $100/mt on the week.
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LME Copper |
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LME Copper 3M settled at $9,613.50/mt, up $255.50/mt on the week.
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LME Nickel 3M settled at $16,504/mt, up $1,071/mt on the week. |
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CME Hot Rolled Coil (HRC) Steel |
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Prompt month HRC Steel last traded/settled at $921/T, up $146/t on the week.
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AEGIS Insights |
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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 2/27/2024: Aluminum Consumers Should Still Implement Hedges, Even Though Russia Sanctions Mean Little |
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Notable News |
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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 |
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