Aluminum rose from near a four-month low, even as Goldman Sachs Group Inc. warned that supply from Middle Eastern smelters is rebounding more quickly than expected.
Aluminum rose from near a four-month low, even as Goldman Sachs Group Inc. warned that supply from Middle Eastern smelters is rebounding more quickly than expected.
Aluminum fell to the lowest since mid-February as a strengthening US dollar and the easing of tensions in the Middle East continued to pressure commodities.
Copper slipped as traders awaited fresh peace talks between the US and Iran and the outlook for US monetary policy as the Federal Reserve takes a hawkish stance on inflation.
An employee monitors molten copper flowing out of an electric furnance before being cast, at a smelting facility in Glogow, Poland.
Aluminum capped a fourth weekly decline, the longest losing streak since April 2025, as a renewed selloff in tech stocks added to pressure from the dollar’s recent rally and returning Middle East supplies.
Chinese copper manufacturer Zhejiang Hailiang Co. is betting its American customers won’t balk at higher prices if the US follows though on placing tariffs on the refined metal.
Aluminum tumbled by more than 4%, and other metals posted sharp declines, after a bearish turn for equities weighed on sentiment in commodities markets.
Aluminum billets. Photographer: Graham Hughes/Bloomberg
The biggest question in the global copper market right now is whether US President Donald Trump will move ahead with tariffs on refined copper. The decision, expected within weeks, could shape the next phase of trade flows, inventories and prices.
A forklift operator moves a roll of copper in Rome, New York.
The London Metal Exchange plans to launch a steel futures contract that gives global investors exposure to Shanghai prices, marking another step in the internationalization of Chinese commodities futures.
Aluminum edged higher as investors assessed the potential for long-term supply limitations despite booming Chinese production and the possible return of Middle East smelters to the global market.
Aluminum products. Photographer: Andrej Ivanov/Bloomberg
Copper inched lower for a third day as fresh fighting in the Middle East raised concern around faster inflation, higher interest rates and slower economic growth.
Metals from aluminum to zinc dropped after tensions in the Middle East escalated and expectations for US rate hikes weighed on the demand outlook for commodities.
Chinese aluminum exports surged in May, helping fill a global shortage caused by war in the Middle East. Crude oil imports continued to slump, dropping to an eight-year low, as the conflict chokes shipments from major producers.