Aluminum Holds Near Highest Since 2022 With Gulf Supply at Risk

Aluminum rallied to the highest in nearly four years before paring some gains, with traders assessing the scale of supply disruptions in the Middle East as the war in Iran continues.

Prices advanced 1.7% to settle at $3,516.50 a ton, the highest since March 30, 2022. Aluminum has surged since the start of the conflict in Iran, which has throttled supplies in the Persian Gulf, which accounts for about 9% of global output.