Industrial Metals Charge to Fresh Highs as Inflation Runs Hot
- Aluminum trades at 13-year high, nickel at highest since 2014
- Surge in commodities is adding to global price pressures
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A broad rally in base metals markets is gathering pace, with tight supply, logistical logjams and booming demand creating an inflationary storm that’s driving prices to multiyear highs.
Aluminum notched a fresh 13-year high and nickel rose to the highest since 2014 in London. Both metals are benefiting from China’s crackdown on emissions from energy-intensive industries, while their role in the green revolution is buoying the longer-term outlook.