Aluminum Fluctuates as Iran War Continues to Disrupt Trade Flows

Aluminum rose on supply disruptions triggered by the war in the Middle East, with offer prices in Japan climbing to an 11-year high.

Three-month futures on the London Metal Exchange rose Wednesday to settle at the highest price since April 2022. That came after the conflict forced production cuts at key aluminum smelters in the Middle East, which accounts for about 9% of global output. The Strait of Hormuz remains effectively shut, preventing shipments from transiting the choke point.