Aluminum prices neared a record $4,380 per metric ton on January 13, 2026, while tin climbed to $35,450 per metric ton, driven by persistent supply chain disruptions and geopolitical risks in key producing regions. The rally reflects tightening inventories and growing concerns over long-term availability.
- Aluminum reached $4,378 per metric ton, near the record high of $4,380 set in 2023.
- Tin surged to $35,450 per metric ton in early January 2026, up 11.3% in one month.
- Supply disruptions in Indonesia and the DRC are key drivers behind tin's rally.
- Global aluminum spot premium expanded by 3.2% in January 2026.
- Net long positions in aluminum increased by 18% over three weeks.
- EV and electronics manufacturers are adjusting procurement strategies due to cost pressures.
Aluminum futures reached $4,378 per metric ton on the London Metal Exchange (LME), just 0.5% below the all-time high set in 2023, as producers in Europe and North America reported growing disruptions due to energy cost volatility and logistical bottlenecks. The metal, widely used in automotive, aerospace, and construction sectors, has seen its global spot premium widen by 3.2% over the past month. Tin prices extended their recent surge, rising 11.3% in January alone to reach $35,450 per metric ton, fueled by supply concerns in Indonesia and the Democratic Republic of the Congo—two of the top three global tin producers. Production delays in Indonesia due to regulatory scrutiny and mining activity slowdowns in DRC have tightened supply, prompting traders to anticipate tighter inventories in the first half of 2026. The surge in both metals underscores rising costs for manufacturers, particularly in electronics and electric vehicle (EV) production, where both aluminum and tin are critical components. Companies such as Tesla, Boeing, and Samsung have begun revising procurement forecasts, with some locking in forward contracts at elevated levels to mitigate risk. Market analysts note that the rally is not solely driven by physical supply shortages but also by speculative positioning, with net long positions in aluminum increasing by 18% over the past three weeks. The situation has prompted central banks and commodity regulators to monitor potential inflationary spillovers into industrial goods pricing.