Aluminum Falls Further

2026-03-10 07:39 By Judith Sib-at 1 min. read

Aluminum futures in the UK dropped to around $3,360 per tonne, retreating further from a four year-high after President Trump’s remarks eased concerns over Middle East supply disruptions.

Trump indicated the conflict with Iran would end soon as he faced mounting economic and political pressures following days of dramatic volatility in oil markets.

However, supply risks persist, as the closure of the Strait of Hormuz has disrupted shipments from the Persian Gulf, which accounts for roughly 9% of global aluminum supply.

Output from top producer China is also unlikely to fully offset these disruptions, as its supply is capped by 45 million tons this year under government measures to limit overcapacity in key good producing sectors, while expansion in Indonesia faces challenges from rising energy costs and regulatory hurdles.

These developments come against the backdrop of already critically low aluminum inventories at both the LME and COMEX.



News Stream
Aluminum Falls Further
Aluminum futures in the UK dropped to around $3,360 per tonne, retreating further from a four year-high after President Trump’s remarks eased concerns over Middle East supply disruptions. Trump indicated the conflict with Iran would end soon as he faced mounting economic and political pressures following days of dramatic volatility in oil markets. However, supply risks persist, as the closure of the Strait of Hormuz has disrupted shipments from the Persian Gulf, which accounts for roughly 9% of global aluminum supply. Output from top producer China is also unlikely to fully offset these disruptions, as its supply is capped by 45 million tons this year under government measures to limit overcapacity in key good producing sectors, while expansion in Indonesia faces challenges from rising energy costs and regulatory hurdles. These developments come against the backdrop of already critically low aluminum inventories at both the LME and COMEX.
2026-03-10
Aluminum Rises Further to 4-Year High
Aluminum futures in the UK rose to $3,390 per tonne in March, the highest in nearly four years, as a halt in supply from the Persian Gulf magnified an already tight backdrop. Iran struck targets in all GCC countries, driving major producers to stop aluminum refining activity and risking the suspension of operations in the region that produces 10% of global supply. Qatar halted its aluminum operation with Norsk Hydro in the country and Bahrain's Alba declared force majeure and halted all deliveries for the time being. Higher output from top producer China is not expected to make up for the developments as its supply is capped by 45 million tons this year, in line with the government's aim to limit overcapacity in key good producing sectors, while smelters struggle to build new plants in Indonesia amid higher energy costs and local regulations risks. The developments come as stocks at the LME and COMEX ae already near record lows.
2026-03-09
Aluminum is up by 5.03%
Aluminum increased 5.03% to 3445.08 USD/T
2026-03-06