Base metals trade lower in early European hours, with three-month aluminum futures falling 1.3% to $3,050.50 a metric ton and copper down 0.9% to $13,215.50 a ton. Aluminum has slumped 18% on the month as the reopening of the Strait of Hormuz boosted expectations that supplies from Persian Gulf producers will normalize, easing concerns over disruptions from a region that accounts for more than 10% of global output. Copper also edged lower after a firmer U.S. dollar softened investor appetite for dollar-denominated commodities. Traders are also awaiting signals from Washington on refined copper imports, with any policy changes likely to influence trade flows and market sentiment in the near term. (giulia.petroni@wsj.com)
Dow Jones Newswires
Base Metals Slip on Hormuz Optimism, Firmer Dollar — Market Talk
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Base metals trade lower in early European hours, with three-month aluminum futures falling 1.3% to $3,050.50 a metric ton and copper down 0.9% to $13,215.50 a ton. Aluminum has slumped 18% on the month as the reopening of the Strait of Hormuz boosted expectations that supplies from Persian Gulf pro…