Producers of metals and other raw materials ticked up as shortages and inflation bets sent industrial and metals futures towards multi year highs.
Copper and aluminum prices both breached their highest levels since 2022 and 2023, respectively, as global demand picked up and additional sanctions on Russian smelters limited supplies. Traders are seeking exposure to niches that thrive during times of inflation, including miners and precious-metals futures. A recent craze for gold among retail investors could be a harbinger of a correction in the precious metal, said Joe Rinaldi, chief investment officer and president of wealth adviser Quantum Financial Advisors.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
04-17-24 1749ET
