Copper's blistering rally to a record high in 2026 is beginning to reshape how manufacturers think about one of the world's most critical industrial metals. As soaring prices threaten margins, companies are increasingly turning to aluminium, a cheaper and lighter alternative, for applications that have traditionally relied on copper.
The shift comes after copper prices surged to a record high in late January, touching nearly $15,000 per tonne, driven by supply shortages and surging demand from the green-energy transition and data centres. Aluminium, by comparison, trades at roughly a quarter of copper's price, making it an increasingly attractive substitute where technical requirements allow.
