Aluminum Near 2-Month Lows

2026-06-18 07:16 By Judith Sib-at 1 min. read

Aluminum futures in the UK fell to $3,400 per tonne, close to an over two-month low, as an interim US-Iran peace deal eased supply concerns.

The two nations remotely signed a memorandum of understanding to end their war and reopen the Strait of Hormuz, allowing metal exports from the Persian Gulf, which accounts for roughly 9% of global aluminum production, to resume.

Still, there remains uncertainty over how quickly supply chains can recover, given as key Gulf producers are facing operational challenges following earlier Iranian attacks.

Additional downside risks come from rising output in China, the world’s largest producer, and increasing supply from smelters in Indonesia.

In addition, weak economic data from China has raised concerns over demand as the country is also one of the biggest consumers of the metal.

Further weighing on prices, the Federal Reserve’s hawkish hold lifted the US dollar, making greenback-priced commodities expensive for foreign buyers.



News Stream
Aluminum Near 2-Month Lows
Aluminum futures in the UK fell to $3,400 per tonne, close to an over two-month low, as an interim US-Iran peace deal eased supply concerns. The two nations remotely signed a memorandum of understanding to end their war and reopen the Strait of Hormuz, allowing metal exports from the Persian Gulf, which accounts for roughly 9% of global aluminum production, to resume. Still, there remains uncertainty over how quickly supply chains can recover, given as key Gulf producers are facing operational challenges following earlier Iranian attacks. Additional downside risks come from rising output in China, the world’s largest producer, and increasing supply from smelters in Indonesia. In addition, weak economic data from China has raised concerns over demand as the country is also one of the biggest consumers of the metal. Further weighing on prices, the Federal Reserve’s hawkish hold lifted the US dollar, making greenback-priced commodities expensive for foreign buyers.
2026-06-18
Aluminum Hovers Near 2-Month Lows
Aluminum futures in the UK rose toward $3,400 per tonne but remained near an over two-month low, amid easing supply risks and persistent demand concerns. The US and Iran have agreed on a framework to end their three-month conflict, with the Strait of Hormuz expected to reopen after the agreement is formally signed on June 19. The reopening of the waterway would resume metal exports from the Persian Gulf, which accounts for roughly 9% of global aluminum production. However, uncertainty remains over how quickly supply chains can normalize, particularly as key Gulf producers faced operational challenges following earlier Iranian attacks. Additional downside risks come from rising output in China, the world’s largest producer, as well as increasing supply from smelters in Indonesia. At the same time, disappointing economic data from China has raised fresh concerns about global demand, given the country is also one of the biggest consumers of the metal.
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Aluminum is down by 5%
Aluminum decreased 5% to 3365.9 USD/T
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