Aluminum Hits 4-Year High Amid Iran-Israel War, Supply Crunch Looms

• Aluminum prices surged to $3,499.50 a ton on the London Metal Exchange, highest since April 2022, driven by escalating Iran-Israel hostilities.
• The Middle East, accounting for 9% of global supply, faces severe disruptions; two major smelters in Qatar and Bahrain suspended deliveries.
• US buyers are now seeking alternative aluminum cargoes from Asia due to the supply crunch.
• Crude oil also spiked 20% as the war curbed production, while other industrial metals like copper fell due to reduced risk appetite.
• Analyst Gao Yin warns a prolonged war will further hurt aluminum supplies, with investors buying aluminum and selling other metals.