Aluminum Falls to Near 3-Month Low

2026-06-23 03:58 By Judith Sib-at 1 min. read

The two countries have agreed on a roadmap toward a final agreement following their first round of high-level talks, raising expectations for a return of supplies from the Middle East, which makes up roughly 9% of global output.

However, uncertainties remain, as major Gulf producers continue to face operational disruptions following earlier Iranian attacks.

Additional downside pressure comes from rising output in China, the world’s largest producer, and increased production from smelters in Indonesia.

On the demand side, weak economic data from China has added concerns, as the country is also one of the biggest consumers of the metal.

A stronger US dollar is also weighing on prices, as it makes dollar-priced commodities more expensive for buyers using other currencies.

Aluminum Commodity

News Stream

Aluminum Falls to Near 3-Month Low

Aluminum futures in the UK dropped to around $3,320 in early Asian trading, the lowest since March 27, amid prospects for the resumption of metal exports from the Persian Gulf following progress in US-Iran talks. The two countries have agreed on a roadmap toward a final agreement following their first round of high-level talks, raising expectations for a return of supplies from the Middle East, which makes up roughly 9% of global output. However, uncertainties remain, as major Gulf producers continue to face operational disruptions following earlier Iranian attacks. Additional downside pressure comes from rising output in China, the world’s largest producer, and increased production from smelters in Indonesia. On the demand side, weak economic data from China has added concerns, as the country is also one of the biggest consumers of the metal. A stronger US dollar is also weighing on prices, as it makes dollar-priced commodities more expensive for buyers using other currencies.

2026-06-23

Aluminum Near 2-Month Lows

Aluminum futures in the UK hovered around $3,400 per tonne, near 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.

2026-06-16