Copper and Aluminum Stand Out in Commodity Markets in First Half of 2024

In the commodity markets, base metals saw significant price increases in copper and aluminum during the first half of 2024. Copper prices reached an all-time high, driven by strong demand from AI data centers, highlighting the impact of technology sector growth on commodity demand. Aluminum prices tested their highest levels in four years due to supply concerns stemming from geopolitical risks. Uncertainties in global trade and tensions in production regions have heightened expectations of a contraction in aluminum supply. These developments have turned investors' attention to base metals. The price movements in copper and aluminum have created a general sense of optimism in the commodity markets. However, whether prices will remain at these levels will depend on global economic data and geopolitical developments. In particular, demand signals from China and the monetary policies of central banks could be decisive for the direction of metal prices. Investors assess that interest in base metals may continue during this period, but caution should be exercised against potential supply shocks. Market participants are closely monitoring factors that could influence the trajectory of copper and aluminum prices in the coming months. This is not investment advice.