Copper, aluminum prices up as inflation runs hot

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.

The surge in commodities, as well as soaring shipping and power costs, is fueling global consumer prices. China’s factory-gate inflation accelerated to a 13-year high, while US consumer prices are forecast to rise by more than 5% for a third straight month.