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Commodities have recorded deep losses overall on month amid trade turmoil, though metals posted a weekly gain. This reflects a surprise tariff reprieve for some countries from U.S. President Trump--though levies on China were hiked to 145%--and optimism that Beijing will offer more stimulus to shield China's economy from the punitive tariffs. Meanwhile, the dollar has extended its losses after recording the biggest drop in three years. |
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LME Aluminum |
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LME Aluminum 3M settled at $2,396.50/mt, up $18/mt on the week.
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LME Copper |
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LME Copper 3M settled at $9,154.50/mt, up $374.50/mt on the week.
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LME Nickel 3M settled at $15,069/mt, up $311/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 $938/T, up $163/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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