Copper and aluminum prices continue to rise strongly, with the base metals aiming for a "four-week winning streak".

Notice that, due to concerns about tightening supply and the continued enthusiasm of investors for commodities, prices of base metals including copper and aluminum have risen, continuing the strong upward trend in the industry. The prices of copper, aluminum, and nickel have all risen by over 1%, with copper reaching the historical high set earlier this week. Goldman Sachs has raised its price forecast for copper in the first half of the year to $12,750 per ton, while adding that prices are expected to fall in the second half of the year. The London Metal Exchange Index shows that base metal prices are heading towards a fourth consecutive week of increase, the longest since August. Due to concerns that the U.S. will impose import tariffs, causing copper to flow into the region and tightening supply in other areas, copper has been favored by the market. Goldman analysts stated in a report: "Expectations that the U.S. will impose tariffs on copper, causing copper to be attracted to the U.S. domestic market, along with low inventories in regions outside the U.S., have increased scarcity premiums for copper due to inflows of investor funds." However, they do not believe that prices above $13,000 per ton can be sustained, as once tariffs are implemented, it "may signal the end of U.S. hoarding behavior." Furthermore, with Rio Tinto Group announcing negotiations to acquire Jevons Mining to create the world's largest mining company, the outlook for the metals industry has also become a focus. This merger would represent the largest deal in the history of the industry. Currently, as producers seek to expand their copper business, the industry is caught up in an acquisition frenzy. At the time of writing, LME copper futures rose by 1.1% to $12,856 per ton, aluminum futures rose by 1%, and nickel futures were at $17,410 per ton.