The price of aluminum has reached its highest level since 2022, boosted by supply concerns and a general increase in metal prices.

The price of aluminum has climbed to its highest level since 2022, driven by supply concerns and overall metal price increases, while a weaker US dollar and strong demand from investors for hard assets have also fueled this rally. Aluminum futures prices on the London Metal Exchange rose 1.8% in early trading to $3,321.50 per ton. Analysts at ING Group stated, "The aluminum market is expected to enter a supply shortage by 2026, with supply still being a key constraining factor." Apart from Indonesia, production growth is limited, and there have been few refinery restarts in Europe and the United States. Aluminum prices have also benefited from the general increase in copper prices, which have risen above the record-high of $13,900 per ton.