Core Viewpoint - London aluminum prices have reached their highest level in nearly four years, driven by President Trump's comments on the dollar and a general increase in base metal prices [1][3]. Group 1: Market Dynamics - Trump's statement that the dollar is performing "great" has intensified market pessimism regarding the dollar, contributing to a nearly 3% drop in the Bloomberg Dollar Index over four trading days, which enhances the appeal of dollar-denominated commodities [1][3]. - Base metals have started 2026 strongly, benefiting from a shift of funds towards "harder" assets as investors move away from currencies and sovereign debt due to concerns over fiscal deficits [1][3]. Group 2: Supply and Price Predictions - Supply constraints are providing support for certain metals, with Goldman Sachs raising its aluminum price forecast due to sustained bullish sentiment among investors [2][4]. - Goldman Sachs now expects the average aluminum price for the first half of the year to be $3,150 per ton, up from a previous forecast of $2,575 per ton, although this is still below current price levels [2][4]. - London aluminum prices increased by 1.5% to $3,253.5 per ton, marking the highest level since April 2022 amid the Russia-Ukraine conflict, while London copper and zinc also saw increases of 1.3% and 1.5%, respectively [2][4].