20.04.202607:38:16UTC+00Aluminum Extends Decline

Aluminum futures in the UK fell toward $3,530 per tonne, extending their pullback from a more than four-year high, even as fresh worries emerged over supply disruptions from the Persian Gulf, which accounts for roughly 9% of global output. Iran reimposed a blockade on the Strait of Hormuz only hours after briefly reopening it, accusing the United States of maintaining a de facto blockade of Iranian ports.

In addition to restricting traffic along one of the world’s most critical shipping lanes, the conflict has directly curtailed production capacity. Major refineries in the UAE and Bahrain sustained damage after being hit by Iranian strikes. Analysts warned that regional supply constraints could last for months even if hostilities subside soon, as repairing smelting and refining facilities is expected to be a lengthy process. Emirates Global Aluminium, the region’s largest producer, stated that it will need at least a year to fully restore production.