Three-month copper futures just hit $12,000 per ton for the very first time, with prices up 0.7% in recent trading. This milestone signals renewed appetite for physical commodities amid shifting macroeconomic expectations. When industrial metals like copper surge past psychological levels, it often reflects two things: either markets are pricing in robust global demand recovery, or they're hedging against inflation concerns. Either way, the move matters beyond just commodity traders—it reshapes how institutional capital thinks about risk asset allocation across equities, emerging markets, and yes, alternative assets too. Worth watching how this momentum sustains, especially with central banks navigating rate cycles and geopolitical tensions keeping supply chains on edge.