Aluminum futures surged past the $3,000 per ton mark for the first time in over three years on Friday, driven by growing concerns over constrained global supply and long-term demand optimism. The metal, which gained 17% in 2025 its strongest annual rally since 2021 continues to ride a wave of positive sentiment across the broader base metals sector. The rally reflects structural supply limitations. In China, a cap on smelting capacity continues to restrict domestic output. Meanwhile, elevated energy prices in Europe have reduced production incentives, putting further pressure on global inventories. These supply-side ... (full story)