| Base metals plunged this week, as President Trump's tariffs sent global markets into chaos. Fears of a significant economic slowdown gripped markets, leading to substantial sell-offs in metals, energy, and equities. LME copper fell to the lowest level in over a year, while LME aluminum also saw a rapid decline, to a multi-month low. |
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LME Aluminum |
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LME Aluminum 3M settled at $2,378.50/mt, down $169/mt on the week.
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LME Copper |
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LME Copper 3M settled at $8,780/mt, down $1,014/mt on the week.
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LME Nickel 3M settled at $14,758/mt, down $1,762/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 $932/T, up $157/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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