Wedoany.com Report on Mar 2nd, Due to escalating conflicts in the Middle East, market concerns over potential disruptions to aluminum supply routes have led to a rise in aluminum prices. The region holds a significant position in global aluminum production, and the risk of supply interruptions has triggered price volatility.

On the London Metal Exchange, aluminum prices rose by as much as 2.8% in early trading, reaching $3,228 per ton. The Strait of Hormuz, a crucial trade passage located near the coast of Iran, is a route many major aluminum producers in the region rely on for transporting metal and importing raw materials.

The Middle East conflict escalated over the past weekend with the United States and Israel launching attacks on Iran, to which Tehran responded by striking multiple countries. According to data from consultancy AZ China, the Middle East accounts for approximately 9% of global aluminum production capacity, and aluminum prices are typically sensitive to heightened regional tensions.

Tehran has launched missiles at neighboring countries, including Saudi Arabia, the United Arab Emirates, and Bahrain, all of which are significant aluminum producers. As of 9:25 AM Shanghai time, aluminum prices were up 1.6% at $3,190 per ton. Copper prices edged lower after rising earlier in London, while zinc prices gained 0.2%. Iran has become an important source of zinc supply for China, a relationship that helped keep zinc prices in the Chinese market stable relative to other global regions last year.