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Aluminium falls to lowest since late March on Iran deal
Aluminium prices fell to their lowest level in two-and-a-half months on Monday as a U.S.-Iran framework agreement to end their war improved prospects for deliveries from Gulf producers, even though shippers were still cautious on transit through the Strait of Hormuz. The benchmark three-month aluminium on the London Metal Exchange was down 3.0% at $3,430 a metric ton in official open-outcry trading, having hit $3,408, its lowest since March 30. U.S. and Iranian officials said they had reached an agreement to end their war and reopen the Strait of Hormuz, a preliminary pact that sent oil prices falling but leaves the ... (full story)