':"";if(a){var r=n.promos.showYahooLogo?"":"yns-no-logo";a=a.replace("{notifOnboardBtnLabel}",n.promos.notifOnboardBtnLabel).replace("{notifOnboardMsg}",n.promos.notifOnboardMsg).replace("{subscriptionTopic}",n.promos.subscriptionTopic).replace("{noLogoClass}",r).replace("{promoLogo}",n.promos.promoLogo)}var s=t.newCount>n.panel.maxCount?t.newCount:"",c=n.panel.notificationCenterPath,l=c?"":P,u=n.panel.headerMsg?"":" "+P,d=c?R:"",p=void 0;t.count?p=t.markup:p='{emptyPanelMsg}'.replace("{emptyPanelMsg}",n.panel.emptyPanelMsg);return e=e.replace("{notifMarkup}",p).replace("{promoMarkup}",a).replace("{hideClass}",l).replace("{notifCenterLink}",c).replace("{paddingClass}",d).replace("{headerMsg}",n.panel.headerMsg).replace("{hideHeaderClass}",u).replace(/{notificationCenterNavMsg}/g,n.panel.notificationCenterNavMsg).replace(/{newCount}/g,s)}},{key:"render",value:function(e,t){var n=this;if(n._panelNode){var o=void 0,i=n._panelNode,a=void 0,r=void 0;switch(e){case"expanded_panel":o='{promoMarkup}{notifMarkup}',r=n._store.getNotifications(),a=n._generatePanelMarkup(o,r),i.innerHTML=a;break;case"error_panel":a=(o='{errorMsg}').replace("{errorMsg}",n._config.panel.errorMsg),i.innerHTML=a}t&&t()}else t&&t(new Error("No panel parent"))}},{key:"createPanelParentNode",value:function(e){e&&(e.innerHTML='',this._panelNode=document.getElementById(D))}},{key:"updateBadgeNode",value:function(e){if(e){var t=this._store.getNotifications().newCount,n=this._config.badge.maxCount;if(t){var o=t>n?n+"+":t;e.innerHTML=o}else e.innerHTML=""}}},{key:"addStyles",value:function(e){if(e&&"undefined"!=typeof window){var t=document.getElementById(this._config.panel.styleTagId);t||((t=document.createElement("style")).type="text/css",t.id=this._config.panel.styleTagId,t.innerText=e,document.head.appendChild(t))}}}]),e}(),U=function(){function e(t,n,o){L(this,e);var i=this;i._store=n,i._view=o,i._config=t;var a=i._config.panel;i._panelParentNode=document.querySelector(a.parentSelector),i._badgeNode=i._config.badge.selector&&document.querySelector(i._config.badge.selector),i._indicatorNode=a.indicatorSelector&&document.querySelector(a.indicatorSelector)}return E(e,[{key:"createPanelParentNode",value:function(){this._view.createPanelParentNode(this._panelParentNode),this._notifPanelNode=document.getElementById(D)}},{key:"refreshPanelNode",value:function(e,t){var n=this;A(n._notifPanelNode,B),n._store.fetchNotifications(e,(function(e,o){var i=window.wafer&&window.wafer.base;i&&i.destroy(n._notifPanelNode),e?n._notifPanelNode.innerHTML||(n._view.render("error_panel"),A(n._notifPanelNode,B)):(n._view.render("expanded_panel"),n._view.updateBadgeNode(n._badgeNode),n._showBadge(),n._showIndicator(),n._view.addStyles(o.css)),M(n._notifPanelNode,B),i&&i.sync(n._notifPanelNode.parentNode),t&&t(e,o)}))}},{key:"resetBadge",value:function(){var e=this;e._store.resetNewCount(),e._view.updateBadgeNode(e._badgeNode),A(e._badgeNode,e._config.badge.hideClass)}},{key:"_showIndicator",value:function(){this._indicatorNode&&(this._store.getNotifications().newCount?A(this._indicatorNode,this._config.panel.indicatorClass):M(this._indicatorNode,this._config.panel.indicatorClass))}},{key:"_showBadge",value:function(){var e=this;e._store.getNotifications().newCount?M(e._badgeNode,e._config.badge.hideClass):A(e._badgeNode,e._config.badge.hideClass)}}]),e}(),j={promos:{eligibleBodyClass:"display-push-promos",enableNotifOnboard:!0,bypassEligibleClassCheck:!1,notifOnboardBtnLabel:"Notify Me",notifOnboardMsg:"Get alerts for breaking news and top stories",promoLogo:"https://s.yimg.com/cv/apiv2/ae/news/circle_bell.png",showYahooLogo:!0,subscriptionTopic:"gondor_homerun_news"},badge:{hideClass:"",maxCount:5,selector:""},panel:{emptyPanelMsg:"You have no new notifications.",errorMsg:"",headerMsg:"Notifications",imageTag:"img:40x40|2|80",indicatorClass:"yns-indicator",indicatorSelector:null,maxCount:6,notificationCenterNavMsg:"View all {newCount} notifications",notificationCenterPath:"",notificationTypes:"",parentSelector:null,styleTagId:"notificationStyles",theme:"default"},service:{attemptCount:1,attemptDelay:2,url:null,resetUrl:null,isRMP:!1,responseType:"json",timeout:1500}},Y={NotificationClient:function(){function e(t){L(this,e);var n=this;n.config=n._parseConfig(t),n._validateRequiredConfigs()&&(n._request=new C(n.config),n._store=new O(n.config,n._request),n._view=new H(n.config,n._store),n._panelController=new U(n.config,n._store,n._view),n._panelController.createPanelParentNode(),n._assignHelperMethods())}return E(e,[{key:"_parseConfig",value:function(e){var t={};for(var n in N(t,j),t)if(t.hasOwnProperty(n)){var o=t[n],i=e[n];"object"===(void 0===o?"undefined":_(o))?N(o,i):t[n]=e[n]}return t}},{key:"_validateRequiredConfigs",value:function(){var e=this.config;return!(!e.panel.parentSelector||!e.service.url)}},{key:"_assignHelperMethods",value:function(){var e=this;e.helpers={refreshPanelNode:e._panelController.refreshPanelNode.bind(e._panelController),resetBadge:e._panelController.resetBadge.bind(e._panelController),resetIndicator:function(){M(e._panelController._indicatorNode,e.config.panel.indicatorClass)}}}}]),e}()},F="lnct",z=function(){function e(){var e,t;this.personalized=!1,this.ybarElem=document.getElementById("ybar"),this.partnerClasses=null===(t=null===(e=this.ybarElem)||void 0===e?void 0:e.className)||void 0===t?void 0:t.match(/ybar-variant-([a-z]*)/),this.client=new Y.NotificationClient(this.getConfig())}return e.prototype.refreshPanel=function(){var e,t,n,o=this,i={lastUpdate:this.getTimeStamp()||this.setTimeStamp(),loadInHpViewer:!0,includePersonalized:this.personalized},a=(null===(e=window.YAHOO)||void 0===e?void 0:e.context)||(null===(t=window.Af)||void 0===t?void 0:t.context)||{};return a.region&&a.lang&&(i.lang=a.lang,i.region=a.region),(null===(n=this.partnerClasses)||void 0===n?void 0:n.length)&&(i.partner=this.partnerClasses[1]),new Promise((function(e,t){o.client.helpers.refreshPanelNode({matrixParams:i},(function(n,o){n&&(c("Notification refresh error:",n),t(n)),e(o)}))}))},e.prototype.resetBadge=function(){this.client.helpers.resetBadge(),this.setTimeStamp()},e.prototype.getConfig=function(){var e,t,n,o,i,a=document.getElementById("notification-container"),r=null===(e=null==a?void 0:a.dataset)||void 0===e?void 0:e.config;if(I&&!r)return I;var s={promos:{eligibleBodyClass:"display-push-promos",enableNotifOnboard:!0},badge:{selector:"#notif-badge",hideClass:"ybar-notification-hidden"},panel:{emptyPanelMsg:"You have no new notifications.",errorMsg:"Please check back later.",headerMsg:"Notifications",maxCount:5,parentSelector:"#ybarNotificationBody",notificationTypes:"breakingNews"},service:{url:"/tdv2_fp/api/resource/NotificationHistory.getHistory",isRMP:!1}},l={};if(r){"att"===(null===(t=this.partnerClasses)||void 0===t?void 0:t[1])&&(s.promos.showYahooLogo=!1);try{var u=JSON.parse(r);l=m({},u),this.personalized=1===u.personalize}catch(e){c("Notifications config parsing error",e)}a&&delete a.dataset.config}return I=this.mergeConfigs(s,l),(null===(n=this.partnerClasses)||void 0===n?void 0:n.length)&&"yahoo"!==(null===(o=this.partnerClasses)||void 0===o?void 0:o[1])&&(null===(i=I.promos)||void 0===i?void 0:i.subscriptionTopic)&&delete I.promos.subscriptionTopic,I},e.prototype.mergeConfigs=function(e,t){var n=m({},e);for(var o in e)n[o]=m(m({},e[o]),t[o]);return n},e.prototype.getTimeStamp=function(){var e;return null===(e=window.localStorage)||void 0===e?void 0:e.getItem(F)},e.prototype.setTimeStamp=function(){var e,t=""+Math.floor((new Date).getTime()/1e3);return null===(e=window.localStorage)||void 0===e||e.setItem(F,t),t},e}(),W=new z,G=function(){return W},J="",K=[],V=function(){},$=function(){window.removeEventListener("beforeunload",$),""!==J&&c("Rapid not found on page",new Error(J))},X=null,Z=function(){return null===X&&(X=document.getElementById("ybar")),X},Q=function(){var e=0,t=window.YAHOO;if(q)return q;if(t)if(t.i13n)if(t.i13n.__RAPID_INSTANCES__)if(t.i13n.__RAPID_INSTANCES__.length0)for(var n=0;n0){if(q.addModules(i,!1,o),K.length>0)for(e=0;e40959)&&(i19903)&&(i55215))return!1}return!0},fe={navBeaconFired:!1},ve=["ready","navigation"],ye=function(){function e(e){var t=this;this.triggerEvent=r,this.addEventListener=s,this.logError=c,this.logPerformance=l,this.getConfig=u,this.getPerformanceMetrics=d,this.rapidRefresh=te,this.state=m({},fe),this.modules=e,this.userEmail="",window.YBAR&&(ve.forEach((function(e){var n="on".concat(e),o=window.YBAR[n];o&&(t[n]=o)})),window.YBAR.wssid&&(this.wssid=window.YBAR.wssid),window.YBAR.appid&&(this.appid=window.YBAR.appid)),ve.forEach((function(e){var n="on".concat(e);s(e,(function(){for(var o,i=[],a=0;a0,o=_.scrollTope.pageOffset,a=_.scrollTop>E+h,r=_.scrollTop a"),o=document.querySelector("#ybar-navigation-item-mail > a > span");null!==t&&null!==n&&(new Pt).fetchCount().then((function(t){o&&t>0&&(o.textContent="("+(t>99?"99+":t)+")",e.onDestroy((function(){o.textContent=""})))})).catch((function(){}))},Pn=!1,Rn=-1,Hn=function(e,t,n){var o,i,a,r=-1,s=0;if(e.ybarNav&&e.navList){var c=window.getComputedStyle(e.ybarNav),l=parseInt(c.width,10)-parseInt(c.paddingLeft,10)-parseInt(c.paddingRight,10),u=61,d=e.navigationPlacement();if(d)u+=d.getBoundingClientRect().width;if(Cn)u+=Cn.getBoundingClientRect().width;for(var p=window.getComputedStyle(e.navList),m=parseInt(p.gap,10)||0,f=0;fg&&(f!==e.navItems.length-1||s+h>g||e.moreMenuDropdown&&e.moreMenuDropdown.hasChildNodes()&&Rn10?e.moreMenuDropdown.classList.add(e.longListClass):null!==e.moreMenuDropdown&&e.moreMenuDropdown.classList.remove(e.longListClass))}},Un=function(e,t){var n,o=function(e,n){var o;e.classList.contains(t.moreMenuNavItemClass)&&(null===(o=t.moreMenuMainFocusItem)||void 0===o||o.setAttribute("aria-expanded",n))},i=function(){t.isTablet&&(document.body.classList.remove("ybar-nav-open"),document.body.removeEventListener("touchend",u))},a=function(n){var i=n.delegateTarget;i&&i.classList.contains(t.dropdownWrapperClass)&&(i.classList.contains(t.dropdownOpenClass)||(e.triggerEvent("nav:dropdown:show",{event:n}),t.isTablet&&(document.body.classList.add("ybar-nav-open"),document.body.addEventListener("touchend",u)),i.classList.add(t.dropdownOpenClass),o(i,"true")))},r=function(e){var n=e.delegateTarget;if(null==n?void 0:n.classList.contains(t.navigationDropdownListClass)){var a=n.parentElement;a&&!a.contains(e.relatedTarget)&&a.classList.contains(t.dropdownWrapperClass)&&(i(),a.classList.remove(t.dropdownOpenClass),o(a,"false"))}else if(null==n?void 0:n.classList.contains(t.dropdownOpenClass)){if(t.isTablet&&e instanceof FocusEvent)return;var r=e.target;Cn&&(!Cn||Cn.contains(r)&&"focusout"!==e.type)||(i(),n.classList.remove(t.dropdownOpenClass),o(n,"false"))}},s=Fe(".".concat(t.dropdownWrapperClass),"focusin",a),c=Fe(".".concat(t.dropdownWrapperClass,", .").concat(t.navigationDropdownListClass),"focusout",r),l=document.getElementById("ybar-navigation"),u=function(e){var n=null==e?void 0:e.target;t.isTablet&&e&&e.target&&e.target instanceof HTMLElement&&(e.target.classList.contains(t.dropdownOpenClass)||e.target.closest(".".concat(t.dropdownOpenClass)))||document.body.classList.contains("ybar-nav-open")&&!["svg","path"].includes(n.tagName)&&(null==l||l.querySelectorAll(".".concat(t.dropdownOpenClass)).forEach((function(e){e.classList.remove(t.dropdownOpenClass)})),i())};e.addEventListener("nav:closeOverflowMenu",(function(){u()}));var d=Fe(".".concat(t.dropdownWrapperClass),"touchstart",(function(e){if(t.isTablet){var n=e.delegateTarget;n&&n.classList.contains(t.dropdownOpenClass)?r(e):(u(e),a(e))}})),p=null===(n=t.ybarNav)||void 0===n?void 0:n.querySelectorAll(".".concat(In));null==p||p.forEach((function(t){var n=t.parentNode;n&&null!==document.querySelector(".ybar-ytheme-crunch")&&e.addElementListener(n,"mouseenter",(function(t){e.triggerEvent("nav:dropdown:show",{event:t})}))})),e.onDestroy((function(){var e;d.destroy(),s.destroy(),c.destroy(),h([],y(null===(e=t.ybarNav)||void 0===e?void 0:e.querySelectorAll(".".concat(t.dropdownOpenClass))),!1).forEach((function(e){e.classList.remove(t.dropdownOpenClass);var n=document.activeElement;(function(e,t){var n=!1;if(!e||!t)return n;if("function"==typeof e.contains)n=e.contains(t);else for(var o=t;o;){if(o===e){n=!0;break}o=o.parentElement}return n})(t.ybarNav,n)&&setTimeout((function(){null==n||n.blur()}),1)}))}))},jn=function(e,t,n,o){for(var i=t||window.location.pathname,a=n||window.location.hostname,r=(o||{}).setParentFocus,s=void 0!==r&&r,c=h([],y(e.topLevelNavLinks),!1),l=null,u=null,d=0;d li"),dropdownClass:t.dropdownWrapperClass,enableMoreMenu:i,moreMenuNavElm:t.moreMenuMainFocusItem,isUserAccountNavigation:!1});!function(e,t){var n,o;h([],y(null===(n=t.ybarNav)||void 0===n?void 0:n.querySelectorAll(".".concat(t.dropdownOpenClass))),!1).forEach((function(e){return e.classList.remove(t.dropdownOpenClass)}));var i=e.getConfig();Cn=(null===(o=i.bucketConfig)||void 0===o?void 0:o.enable_mid_nav_placement)?document.getElementById("ybar-mid-nav-placement"):void 0,"news"===i.property?kn=-12:(kn="finance"!==i.property&&"sports"!==i.property&&t.shiftMoreMenuEnabled?-24:-16,"zh-Hant-HK"!==i.locale&&"zh-Hant-TW"!==i.locale||(kn=-20));var a=t.isTablet?"touchstart":"mouseover",r=Fe(".".concat(t.dropdownWrapperClass,", .").concat(t.navigationDropdownListClass),a,(function(n){if(window||document){var o=window.innerWidth||document.documentElement.clientWidth,a=n.delegateTarget;if(a&&-1!=a.className.indexOf(t.dropdownWrapperClass)&&(a=a.querySelector(".".concat(t.navigationDropdownListClass))),a){a.style.removeProperty("left");var r=a.getBoundingClientRect(),s=Math.trunc(r.right),c=parseInt(window.getComputedStyle(a).marginLeft,10)+o-s;if(s>o)return"sports"!==i.property?void(a.style.marginLeft=c+"px"):void(a.style.right="0px");if(parseInt(a.style.marginLeft)0?a.style.removeProperty("margin-left"):a.style.marginLeft=c+"px":(a.style.removeProperty("margin-left"),a.style.marginLeft=kn+"px"),t.isTablet){var l=a.previousElementSibling;if(Cn&&Cn.contains(a));else if(l){var u=l.getBoundingClientRect(),d=Math.trunc(u.left);a.style.left=d+"px"}}}}else{var p=new Error("Dropdown could not be initialized");e.logError("Error:",p)}}));e.onDestroy((function(){r.destroy()}))}(e,t),Dn(e),e.addElementListener(document,"DOMContentLoaded",(function(){Dn(e)})),Un(e,t);var r=e.getConfig().bucketConfig,s=void 0===r?{}:r,c=s.enableDynamicNavfocus,l=void 0!==c&&c,u=s.enableFuzzyMatching;if(l&&(Pn=void 0!==u&&u,jn(t)),e.addEventListener("nav:setFocus",(function(e){var n=e.detail,o=void 0===n?{}:n,i=o.hostname,a=void 0===i?window.location.hostname:i,r=o.pathname,s=void 0===r?window.location.pathname:r,c=o.options;jn(t,s,a,void 0===c?{}:c)})),i){var d=document.createElement("style");d.title="ybar_nav_interim",document.head.appendChild(d);var p=Fe("#ybar-nav-more-menu ul a","click",(function(t){e.triggerEvent("navigation",{event:t})}));e.addEventListener("nav:resize",(function(){Hn(t,d,a)})),Hn(t,d,a);var m=e.getConfig();if("complete"===document.readyState)Yn(e,t,d,a);else{var f="load";("news"===m.property&&("zh-Hant-TW"===m.locale||"zh-Hant-HK"===m.locale)||"finance"===m.property&&"zh-Hant-TW"===m.locale)&&(f="DOMContentLoaded"),e.addElementListener(window,f,(function(){Yn(e,t,d,a)}))}e.addElementListener(window,"resize",(function(){Hn(t,d,a)})),e.onDestroy((function(){var e=d.parentNode;null==e||e.removeChild(d),p.destroy()}))}Wn(e,t)},zn=function(e,t){var n=["zh-Hant-TW","zh-Hant-HK"].includes(e.getConfig().locale);return t.isFuji2&&n},Wn=function(e,t){if(t.isNavHidden){var n=!1;e.addElementListener(document,"DOMContentLoaded",(function(n){t.isNavHidden()&&e.triggerEvent("l2:hide",{event:n})})),e.addElementListener(window,"resize",(function(o){!n&&t.isNavHidden()&&e.triggerEvent("l2:hide",{event:o}),n=t.isNavHidden()}))}},Gn="#ybar-nav-more-menu";be("ybar-mod-navigation",(function(e){var t,n=e.getConfig(),o={dropdownWrapperClass:An,isFuji2:null!==document.querySelector(".ybar-ytheme-fuji2")||null!==document.querySelector(".ybar-ytheme-crunch"),isTablet:null!==document.querySelector(".tablet")||"tablet"===n.device||matchMedia("(hover: none)").matches,longListClass:Mn,moreMenuDropdown:document.querySelector("".concat(Gn," ul")),moreMenuNavItem:document.querySelector(Gn),moreMenuNavLinksSelector:"".concat(Gn," ul a"),moreMenuMainFocusItem:document.querySelector("".concat(Gn," > button")),moreMenuNavItemClass:Bn,navigationDropdownItemClass:Nn,navigationDropdownListClass:In,navItems:document.querySelectorAll("ul.".concat(On," li.").concat(Tn)),topLevelNavLinks:document.querySelectorAll("li.".concat(Tn," > a")),navLinks:document.querySelectorAll(".ybar-mod-navigation a"),navList:document.querySelector(".ybar-mod-navigation ul"),shiftMoreMenuEnabled:document.querySelector(".ybar-shift-more-menu"),ybarNav:document.getElementById("ybar-navigation"),ybarNavigationItemClass:Tn,dropdownOpenClass:Sn,hasNavPlacement:document.getElementById("ybar-nav-placement"),marginOffset:function(e){var t=window.getComputedStyle(e),o=parseInt(t.marginLeft,10)+parseInt(t.marginRight,10);return"sports"===n.property?parseInt(t.marginRight):"finance"===n.property&&"crunch"===n.ytheme?(o-=1.8)>5?o:5:"crunch"===n.ytheme?o:0},navigationPlacement:function(){return t||(t=document.getElementById("ybar-nav-placement")),t},isNavHidden:function(){var e=!1;return"finance"===n.property&&"crunch"===n.ytheme&&document.documentElement.clientWidth=5||n.initialized?clearInterval(a):(void 0!==n.isNotificationsSupported()&&n.init(),i++)}),100)}return e.prototype.show=function(e){var t;this.initialized&&(this.historyEnabled&&!e||(document.body.classList.add(Qn),null===(t=this.a11yMenu)||void 0===t||t.setAttribute("aria-expanded","true"),this.lastSeen=(new Date).getTime()))},e.prototype.hide=function(){var e;this.initialized&&(this.historyEnabled&&document.body.classList.remove(eo),document.body.classList.remove(Qn),null===(e=this.a11yMenu)||void 0===e||e.setAttribute("aria-expanded","false"))},Object.defineProperty(e.prototype,"lastSeen",{get:function(){return this.state.lastSeen},set:function(e){this.state.lastSeen=e,this.setLocalStorage()},enumerable:!1,configurable:!0}),Object.defineProperty(e.prototype,"manuallyClosed",{get:function(){return this.state.manuallyClosed},set:function(e){this.state.manuallyClosed=!!e,this.setLocalStorage()},enumerable:!1,configurable:!0}),e.prototype.init=function(){this.isNotificationsSupported()&&this.isNotificationPermissionDefault()&&(this.historyEnabled||document.body.classList.add(eo),this.addEventListeners(),this.initialized=!0,this.hasSeenTooltipIn(this.manuallyClosed?6048e5:Zn)||(document.body.classList.add(eo),this.show(!0)))},e.prototype.addEventListeners=function(){var e=this;this.ybar.addElementListener(this.container.getElementsByClassName(to)[0],"click",(function(){e.hide(),e.manuallyClosed=!0}))},e.prototype.isNotificationsSupported=function(){var e;return null===(e=null===window||void 0===window?void 0:window.subscriptionHelperInstance)||void 0===e?void 0:e.checkIsSupportedBrowser()},e.prototype.isNotificationPermissionDefault=function(){var e;return"default"===(null===(e=window.Notification)||void 0===e?void 0:e.permission)},e.prototype.hasSeenTooltipIn=function(e){if(!this.lastSeen)return!1;var t=new Date(this.lastSeen),n=new Date;return t.getTime()+e>n.getTime()},e.prototype.setLocalStorage=function(){var e;null===(e=window.localStorage)||void 0===e||e.setItem(Xn,JSON.stringify(this.state))},e.prototype.getLocalStorage=function(){var e,t,n=null===(e=window.localStorage)||void 0===e?void 0:e.getItem(Xn);if(null===n)return null;try{return JSON.parse(n)}catch(e){return null===(t=window.localStorage)||void 0===t||t.removeItem(Xn),null}},e}(),io=-1,ao={0:0,1:1,9:9,99:99,150:150},ro=function(e,t){var n,o=t.isUH3,i=t.notifMenu,a=t.notifMenuOpener,r=t.notifDropdown,s=t.notifBadge,c=t.notifContainer,l=t.notifLabel;t.tooltipContainer&&(n=new oo(e,t.tooltipContainer));var u=G(),d=function(){i&&(i.checked=!1),null==r||r.classList.remove("ybarMenuOpen")},p=function(){var t;e.triggerEvent("close-all-menus"),!!document.querySelector(".display-push-promos .".concat(Jn))||(u.resetBadge(),s&&(o?null===(t=s.parentElement)||void 0===t||t.classList.remove(Kn):s.style.display="none"))},m=function(e){var t,n;0===io&&(null===(t=null==e?void 0:e.css)||void 0===t?void 0:t.length)&&e.css.length>0&&(io++,function(e){for(var t=function(e){var t=document.createElement("link");t.rel="stylesheet",t.type="text/css",t.href=e,document.getElementsByTagName("head")[0].appendChild(t)},n=0;n0&&s)if(o){var a,r=(a=e.newCount)>99;s.textContent=r?"99+":a+"",null===(n=s.parentElement)||void 0===n||n.classList.add(Kn)}else s.style.display="block"},f=function(){u.refreshPanel().then(m).then(te).catch((function(){}))};if(e.addEventListener("close-all-menus",(function(){ke(c)||d()})),c){f();var v=setInterval((function(){f()}),3e5);e.onDestroy((function(){clearInterval(v)})),o?l&&l.addEventListener("mouseenter",(function(){p(),null==n||n.show()})):c.addEventListener("mouseenter",(function(){p(),null==n||n.show()})),c.addEventListener("mouseleave",(function(){d(),null==n||n.hide()}))}e.addElementListener(i,"click",(function(){ee("ybar","notification","",{elm:"btn",elmt:"block"===(null==s?void 0:s.style.display)?"newalert":"",subsec:"notification",itc:"1"})})),a&&Se(e,a,"ybar","notification",{elm:"expand",subsec:"notifications",itc:"2"}),e.addElementListener(r,"focusin",(function(){i&&(i.checked=!0),null==r||r.classList.add("ybarMenuOpen")})),e.addElementListener(r,"focusout",d),e.addElementListener(t.tooltipContainer,"focusin",(function(){null==n||n.show()})),e.addElementListener(t.tooltipContainer,"focusout",(function(){null==n||n.hide()}));var y=e.getConfig().device,h=document.getElementById("ybar");h&&h.classList.contains("ybar-ytheme-crunch")&&(io=0);var b=new RegExp("[?&]notifications=1(&|#|$)");"desktop"===y&&i&&b.test(window.location.search)&&(i.checked=!0)};be("ybar-mod-notification",(function(e){var t={isUH3:"crunch"===e.getConfig().ytheme,notifContainer:document.getElementById("notification-container"),notifBadge:document.getElementById("notif-badge"),notifMenu:document.getElementById("ybarNotificationMenu"),notifMenuOpener:document.querySelector("#ybarNotificationMenu + label"),notifDropdown:document.getElementById("notifDropdownContainer"),tooltipContainer:document.querySelector(".".concat(Vn)),notifLabel:document.querySelector(".".concat($n))};t.notifDropdown&&ro(e,t)}))}()}};]]>Editor OilPrice.comTue, Jun 3, 2025, 9:00 PM 6 min readVia Metal Miner There are many hedge fund strategies organizations can employ to generate returns and manage risk. Now, metal buyers are looking to apply these same concepts to certain metals. Base metals like copper have seen notable swings so far in 2025. According to the CME group, copper oscillated in a roughly $4.55–$4.80 per pound range throughout May as Chinese demand steadied and trade tensions eased. In contrast, aluminum has been much stronger. Analysts now predict that LME aluminum will average about $2,574/tonne in 2025 (up ~6% from 2024) on expected supply deficits.analyst bull pickFigure: A January 2025 Reuters poll shows analysts’ median 2025 forecasts for base metals. Aluminum is expected to outperform (≈+6% vs 2024), whereas copper (CU), lead (PB), nickel (NI) and tin (SN) forecasts were trimmed. Sources: reuters.com VIA mining.commining.comIn short, base-metal prices remain volatile entering the second half of 2025. Emerging supply constraints (Chinese smelters pledging capacity cuts) and strong “energy transition” demand globally remain counterbalanced by weaker growth and trade skirmishes. Amid this uncertainty, metal buyers cannot rely on “benign” markets.Effective hedging, which involves using a mix of financial and operational tools, is essential to stabilize costs. As one risk manager put it, commodity hedging “provides a level of price predictability” to aid in both budgeting and planning.Practical hedging involves locking in prices or managing exposure. One common strategy is buying metal futures on exchanges like the CME or LME. Forward contracts can also fix purchase costs. For example, a cable manufacturer might buy COMEX copper futures equal to its planned purchase, so any spot price rise is offset by gains on futures. In other words, if the physical price jumps later on, the hedged futures position gains an equivalent amount. According to the CME group, this “back-to-back” hedging lets a producer or consumer offset price risk.Options give the right, but not the obligation, to transact at a set price. For instance, buying a call option lets you lock in a maximum purchase price (for a premium) while retaining upside if prices fall. Conversely, a put option can guarantee a minimum sale price for stored metal. See the details about the pros and cons of call and put options in MetalMiner’s free guide 5 Best Practices of Metal Based Sourcing.The LME notes that a buyer pays a known premium for “unlimited potential upside,” effectively capping the cost at the strike price. For example, a copper buyer might buy calls struck near current levels. If market prices spike, the call payoff compensates for the higher cost. To reduce premiums, companies can use collars (buying a put and selling a call) to set both floor and ceiling prices. In practice, options are best for insuring against rare extreme moves, whereas futures lock in cheaper prices when a move is expected.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P Futures5,975.00 -6.00 (-0.10%)Dow Futures42,488.00 -12.00 (-0.03%)Nasdaq Futures21,733.50 -33.00 (-0.15%)Russell 2000 Futures2,099.50 -0.80 (-0.04%)VIX17.61 -0.08 (-0.45%)Gold3,388.10 -11.10 (-0.33%)PortfolioSign in to access your portfolioSign inTop gainersLYEL Lyell Immunopharma, Inc. 13.47 +5.48 (+68.59%)APLD Applied Digital Corporation 13.25 +3.00 (+29.27%)GWRE Guidewire Software, Inc. 253.98 +35.80 (+16.41%)ZLAB Zai Lab Limited 36.08 +4.95 (+15.90%)REVG REV Group, Inc. 42.94 +5.72 (+15.37%)Top losersASAN Asana, Inc. 15.11 -3.89 (-20.47%)GTLS Chart Industries, Inc. 146.30 -15.29 (-9.46%)DLTR Dollar Tree, Inc. 88.62 -8.10 (-8.37%)PBF PBF Energy Inc. 17.94 -1.60 (-8.19%)IQST iQSTEL Inc. 11.54 -0.98 (-7.79%)Most activeAPLD Applied Digital Corporation 13.25 +3.00 (+29.27%)NVDA NVIDIA Corporation 141.92 +0.70 (+0.50%)LCID Lucid Group, Inc. 2.2300 +0.0400 (+1.83%)F Ford Motor Company 10.24 +0.05 (+0.49%)PLTR Palantir Technologies Inc. 130.01 -3.16 (-2.37%)Earnings eventsTrending tickersAPLD Applied Digital Corporation 13.25 +3.00 (+29.27%)MULN Mullen Automotive, Inc. 16.10 +10.71 (+198.70%)MDB MongoDB, Inc. 199.73 +5.98 (+3.09%)NFLX Netflix, Inc. 1,239.66 +21.72 (+1.78%)TSLA Tesla, Inc. 332.05 -12.22 (-3.55%)Top economic events