Aluminum Hits Seven-Week High as Hormuz Impasse Threatens Supply

AI Summary

Aluminum prices have reached a seven-week high due to ongoing uncertainty over the reopening of the Strait of Hormuz, which threatens Middle Eastern supply chains. The prolonged impasse is fueling concerns about constrained global aluminum availability.

Aluminum advanced for a seventh day as fading prospects for a quick deal to reopen the Strait of Hormuz fueled concerns that Middle Eastern supplies would remain constrained for the foreseeable future.