China’s metals makers recorded their strongest quarter since 2016, with combined profits of $21 billion for January‑March, driven by soaring copper and aluminum prices and a Middle East supply shock. The surge follows a broader rebound in Chinese industrial activity as the government curbed overcapacity and tightened competition, according to Bloomberg. Copper prices reached an all‑time high in the first quarter, while aluminum climbed to its highest level since 2022. The Middle East crisis curtailed sulfuric acid production, pushing its price to historic highs. Meanwhile, aluminum stocks in LME warehouses dropped 60% since May 2025, reflecting the impact of Iranian attacks on Aluminium Bahrain and Emirates Global Aluminium . The disruption in energy production in the Middle East also amplified the effect, as Britannia Global Markets warned that “Iran's strikes on Middle Eastern aluminium plants are threatening to send a fragile market into crisis, raising the prospect of record prices.” The firm added that “the conflict's impact is being amplified because constraints on production elsewhere have eroded global inventories, leaving the market with little buffer against shocks.” With China’s metals sector positioned to benefit from ongoing shortages, the industry is expected to maintain robust profitability, though continued geopolitical tensions could keep commodity prices elevated and supply chains under pressure.