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Copper and Aluminum Prices Reach Annual Highs on Tight Supply, Higher Demand


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https://www.wsj.com/finance/commodities-futures/copper-and-aluminum-prices-reach-annual-highs-on-tight-supply-higher-demand-2220523e

 1. Finance
    
    --------------------------------------------------------------------------------

 2. Commodities & Futures


COPPER AND ALUMINUM PRICES REACH ANNUAL HIGHS ON TIGHT SUPPLY, HIGHER DEMAND


THE GREEN TRANSITION AND INCREASED USE OF AI APPLICATIONS ARE FEEDING DEMAND FOR
COPPER, WHILE SANCTIONS ON RUSSIAN METALS PUSH ALUMINUM HIGHER

By

Joseph Hoppe


April 17, 2024 10:58 am ET

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The implications for premiums should be bullish—particularly aluminum in
Europe—as non-Russian material is sought out, Macquarie’s head of commodities
strategy, Marcus Garvey, said. Photo: Oliver Bunic/Bloomberg News

Copper and aluminum prices both breached their highest levels since 2022 and
2023, respectively, as global demand picks up and supplies tighten.

Copper three-month futures in London rose 1.2% to $9,582 a ton, having peaked
earlier in the session at $9,616.5, a price last seen in June 2022. Aluminum
futures likewise gained 1.1% to $2,587 a ton, having earlier hit $2,593, last
seen in February, 2023.

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