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LME Copper 3M is down nearly $570/mt (7:15AM CST) since Friday’s all-time high close of $10,600/mt. Shanghai Metal Market cites slowing Chinese demand for the current pullback in prices. Copper has rallied in recent weeks as the Russia-Ukraine conflict could strain supplies. Russia was the world’s fifth-largest copper refiner in 2020, with about 4.25% of global copper refined production that year, according to USGS data. Russia has historically been a net exporter of refined copper, with most going to Europe and China, according to Shanghai Metal Market and Russian customs data. Market participants recently cited by Reuters fear that copper exports from Russia could slow, as several shipping companies have stopped accepting bookings to and from the country. Consumers who are concerned about their copper input costs might consider purchasing swaps or call options. Please note that doing so might incur losses if prices decrease. Please contact AEGIS for specific strategies that fit your operations. (3/9/22) |
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Note: Clients with AEGIS Platform access can see this and other research, plus hedge portfolio reporting and tools here. |
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Today's Charts |
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AEGIS Insights |
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03/02/2022: AEGIS Factor Matrices: Most important variables affecting metals prices 02/15/2022: Section 232 Tariffs: Most relevant developments (AEGIS Reference) |
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| Important Headlines | ||
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3/8/2022: LME cancels nickel trades after prices double to over $100,000 3/8/2022: VIEW LME suspends nickel trading after price surge 3/7/2022: Chile a step closer to nationalizing copper and lithium 3/7/2022: Oil, wheat, nickel storm higher on fears of supply chaos 3/7/2022: Oil, nickel, commodities prices soar as global shares tumble 3/7/2022: London bullion market bars Russian gold refineries |
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| Important Disclosure: Indicative prices are provided for information purposes only, and do not represent a commitment from AEGIS Hedging Solutions LLC ("Aegis") to assist any client to transact at those prices, or at any price, in the future. Aegis makes no guarantee to the accuracy or completeness of such information. Aegis and/or its trading principals do not offer a trading program to clients, nor do they propose guiding or directing a commodity interest account for any client based on any such trading program.
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