January 28, 2022

LME Aluminum 3M is up about $80/mt, or 2.6% this week and poised to have its highest weekly close since October. LME Copper 3M is down $333/mt, or about 3.3%, erasing all of last week’s gains. LME Nickel 3M is down $1,905/mt, or about 7.8%, wiping away most of last week’s advance.  Market participants will be closely watching for any further developments regarding the Russia-Ukraine situation that could move metals prices. (1/28/2022)

Note: Clients with AEGIS Platform access can see this and other research, plus hedge portfolio reporting and tools here. 

Price Indications

Today's Charts

AEGIS Insights

01/26/2022: AEGIS Factor Matrices: Most important variables affecting metals prices

01/10/2022: Section 232 Tariffs: Most relevant developments (AEGIS Reference)

11/30/2021: Will the Omicron COVID Variant Impact South African Metals Production or Exports?

Important Headlines & Economic Data

AISI Steel Capability Utilization Rate

Investing.com Economic Calendar 

1/27/2022: China coking coal imports down 25 per cent due to Australia, Mongolia ‘gap’ caused by unofficial ban, border closure

1/27/2022: What is SWIFT and why it might be the weapon Russia fears most

1/26/2022: Freeport-McMoRan reports sevenfold increase in net income, boasts ‘stellar’ performance in 2021

1/26/2022: Biden administration kills Antofagasta’s Minnesota copper project

1/26/2022: Semiconductor shortage has reached 'crisis' levels, Commerce Secretary says

1/25/2022: High coking coal prices provide glimpse into steelmaking’s future

1/24/2022: Rio Tinto and Mongolia settle feud over Oyu Tolgoi copper mine