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Aluminium price surge will depend on length of Strait of Hormuz disruption, Goldman Sachs says
Goldman Sachs said Monday the biggest risks to aluminium stem from potential disruptions to export routes and access to raw materials through the Strait of Hormuz, noting that the effect on prices should be limited if shipping disruptions are short. Benchmark aluminium on the London Metal Exchange rose to its highest in more than a month following the joint US and Israeli strikes on Iran. Roughly 150 ships are stranded around the Strait of Hormuz, the key shipping artery between points in Asia and Europe, after the commander of Iran's Revolutionary Guards told state television Monday that any ship that attempted to ... (full story)
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IRAN'S REVOLUTIONARY GUARDS COMMANDER SAYS STRAIT OF HORMUZ IS CLOSED, IRAN TO SET ON FIRE ANY SHIP TRYING TO PASS -IRANIAN MEDIA
A raging IRGC Advisor, Brigadier General Sardar Ebrahim Jabbari, announced the closure after three days of US-Israeli strikes on Tehran. He declared: “Strait of Hormuz is closed. “Anyone who wants to pass, our self-sacrificing heroes in the IRGC Navy and the Army will set those ships on fire. “Don’t come to this region. We will not allow a single drop of ...
From financemagnates.com | Mar 3, 2026
Silver fell to $83.70 per ounce on Tuesday, March 3, 2026, down another 7% on the day after losing nearly 5% on Monday, wiping out the entire safe-haven premium built on the back of the US-Israel strikes on Iran and the closure of the Strait of Hormuz that rattled global markets at the weekend. From Monday's opening spike above $96, the metal has now shed ...
