I just reviewed Monday’s moves in metals, and the situation is quite tense. Copper plunged by around 1.3% while aluminum rose 0.9%, but the most interesting part is what’s happening behind the scenes. Trump’s remarks about blocking Estrecho de Ormuz have added more pressure to a market that was already on edge due to six straight weeks of conflicts in Medio Oriente.

What really caught my attention was the price differential at the Bolsa de Metales de Londres. The gap between spot and three-month contracts surged 37% from Friday, reaching $91.50 per ton. That’s the highest level since 2007, so we’re talking about something serious. This shows that buyers are desperate to secure prompt delivery, looking for alternative supply sources because uncertainty is at its peak.

In short, the prices of these metals are reflecting all the geopolitical tension. The price of copper is falling, aluminum is rising, and differentials are surging. It’s the kind of move you see when the market is truly nervous about what’s coming.