Industry Newsaluminummetal marketssupply chainsrio tinto
Aluminum Prices Rise Amid Middle East Disruptions
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Aluminum prices climbed on Wednesday as three-month LME futures rose 0.6% to above $3,400 a tonne, extending weekly gains to about 4%. The rally, driven by Middle East supply disruptions — including force majeure from Qatar and Bahrain and an effective Strait of Hormuz closure affecting roughly 9% of global output — led Rio Tinto to offer a $350/tonne premium for Japanese Q2 shipments.
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