Today, aluminum surpassed $3,000 per ton for the first time in over three years, driven by a tightening supply outlook and long-term demand expectations.
The surge follows restrictions on Chinese smelting capacity and limited European output, which caused a decline in global inventories, despite strong demand from the construction and renewable sectors.
Copper also resumed gains today. The red metal was 0.5% higher at $12,487.00 a ton, after capping the biggest annual gain since 2009.
Iron ore futures also advanced 0.3% to $105.65 a ton.
Precious metals saw a significant rise last year, with gold and silver hitting several record highs in 2025. This growth was aided by a weaker US dollar. Moreover, heightened demand for safe-haven assets, driven by geopolitical tensions and trade frictions, further uplifted prices.
By CEO NA Editorial Staff
