First Look - Chinese plants front-loading aluminum exports

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

• LME Aluminum Select 3M Select trades $1 lower at $2,645.50/mt (10:00 AM CDT)
  • Aluminum aluminum prices in China jumped as fabricators rushed to front-load exports ahead of the tax policy change next month. An analyst at Shanghai Metals said, "Some fabricators are busy shipping cargoes after foreign clients urged delivery ahead of schedule".

• LME Copper 3M Select trades $22 higher at $9,112/mt
  • Downstream operating rates in China show a mixed deand picture. Smelter operating rates fell to 81% recently as profitability has deteriorated. Increasing smelter maintenance has offset some of the overcapacity.
• CME HRC Steel last traded at $680/st, down $6

Price Indications

Today's Charts

Metals Factor Matrix

AEGIS Factor Matrices: Most important variables affecting metals prices

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. Certain information in this presentation may constitute forward-looking statements, which can be identified by the use of forward-looking terminology such as “edge,” “advantage,” “opportunity,” “believe” or other variations thereon or comparable terminology. Such statements are not guarantees of future performance or activities.