Aluminum Prices Hit Over 4-Year High

2026-04-13 07:18 By Judith Sib-at 1 min. read

Aluminum futures in the UK climbed to around $3,630 per tonne in April, the highest level since March 2022, amid uncertainty across metal markets following a US blockade of Iranian ports in the Strait of Hormuz.

While metals generally face downside risks from expectations of weakening demand, as surging energy prices threaten to slow global economic growth, aluminum has diverged from this trend due to supply disruptions.

The Gulf region is a key supplier of primary aluminum, accounting for roughly 9% of global output, but shipments have been severely disrupted by the Strait’s closure in late February.

The situation worsened after Iran targeted two regional smelters, with Emirates Global Aluminium, the region’s largest producer, halting operations at its Al Taweelah plant.

Stress in the market was clearly reflected in the widening backwardation on the London Metal Exchange.



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