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Aluminium lurches to four-year high on renewed supply fears from Iran war

From brecorder.com

Aluminium prices jumped to their strongest in four years on Monday after Washington said it would impose a maritime blockade of Iran, reviving fears about weaker supply from top producers in the Gulf. Benchmark three-month aluminium on the London Metal Exchange gained 1.7% to $3,558 a metric ton by 0930 GMT after touching $3,578, its highest since March 31, 2022. The U.S. military said it will begin a blockade of all maritime traffic entering and exiting Iranian ports and coastal areas on Monday at 1000 ET (1400 GMT) after weekend peace talks failed. “Aluminium begins the week at the centre of market attention after ... (full story)

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  • Category: Fundamental Analysis