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Aluminium hits one-month high as focus turns to Middle Eastern supplies
Aluminium prices rose to their highest in more than a month on Monday after U.S. and Israeli strikes in Iran fuelled concerns about prolonged conflict in the Middle East, a major producer of the metal. Benchmark aluminium on the London Metal Exchange was up 3.1% at $3,236 a metric ton at 1050 GMT after touching $3,254 for its highest since January 29. Investors are closely watching developments around shipping in the Strait of Hormuz, an important commodities trade route disrupted by Iranian attacks on U.S. military bases in the region. “Base metals are largely higher this morning as aluminium climbs on concerns ... (full story)
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