A major squeeze is emerging across industrial metals markets as the ongoing US-Israeli war against Iran compounds structural supply shortfalls, said the Financial Times on Thursday. This could keep prices elevated for years, the newspaper added, citing analysts. Copper is trading near its all-time closing high while aluminium has reached a four-year peak, said the FT. Both metals have benefited from surging demand linked to data centres, electric grid construction and electric vehicles, but supply conditions have deteriorated further since the conflict began four months ago and the Strait of Hormuz was effectively ... (full story)