Record aluminum prices in the United States and Europe will be sustained by Russia's mining tax for some months, but attempts to push prices even higher are likely to face headwinds.
Macro headwinds in the form of slowing growth impetus in China and the spread of the Delta variant of covid-19 are currently outweighing copper’s micro-dynamics.
BHP's decision to spend $802 million on oil projects in the US Gulf of Mexico - just days before a new report that issued dire warnings about human contribution to climate change - has ratcheted up pressure from some investors.