Aluminum Prices Hit Recent Lows Amid U.S.-Iran Talks and Hormuz Strait Reopening Expectations

Aluminum prices on the London Metal Exchange (LME) and Shanghai Futures Exchange (SHFE) have both reached recent lows. According to Jin10, this decline is attributed to ongoing negotiations between the United States and Iran, as well as expectations for the reopening of the Hormuz Strait. Additionally, a survey conducted by industry institutions indicates that the global aluminum market is projected to shift from a surplus to a shortage of nearly one million tons by 2026.