The Only Two Commodities Missing Out On The Supercycle

A rising tide lifts all boats but some are heavier than others. Industrial metals are glowing white-hot in a fusion of post-pandemic manufacturing recovery and an emerging narrative of a commodities supercycle. Copper has hit all-time highs above $10,000 per tonne, with London Metal Exchange (LME) three-month metal last trading at $10,350. Tin hit a 10-year high on Thursday and aluminum is charging up towards its 2018 peak of $2,718, last trading at $2,530 per tonne. But not every metal is on a supercycle surge. Lead and zinc have been lifted by…