Chart of the Week – LME 3-Month Aluminium ($US/MT)
It’s not just copper that’s marching higher, aluminium is dancing a similar jig heading towards its highest level in years. This year is increasingly being described by aluminium producers and traders as a “gap year”, a pivotal period where years of underinvestment and constrained supply are colliding with rapidly accelerating demand. The metal sits at the centre of global electrification, power-grid expansion, EV production and aerospace demand, yet new smelting capacity is struggling to keep pace due to high energy costs, environmental restrictions and limited spare capacity.