Aluminum Resumes Ascent

2026-03-11 07:48 By Judith Sib-at 1 min. read

Aluminum futures in the UK climbed back to their highest level in nearly four years above $3,420 per tonne, as investors weigh how long the conflict in the Middle East might continue to disrupt global metal supplies.

The closure of the Strait of Hormuz has halted shipments from the Persian Gulf, which accounts for roughly 9% of global aluminum output.

Supply from China, the world’s largest producer, is unlikely to fully compensate for these disruptions, as production is capped at 45 million tons under government measures aimed at curbing overcapacity in key sectors, while its expansion in Indonesia faces challenges from rising energy costs and regulatory hurdles.

These developments come amid growing demand from emerging industries, including AI, energy storage, and solar panels.



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