{"id":"f-e550251d2f-917d35a5-1878-51a3-aa2b-3c8fd3b511ef","title":"Aluminum rises to 2022 high as Iran-Israel war stokes supply crunch","description":"Aluminum rose as much has 1.6% to $3,499.50 a ton, the highest since April 2022, on the London Metal Exchange, following a gain of almost 10% last week as the war snarled shipments from the Persian Gulf. The region accounts for about 9% of global supply, and traders are bracing for more disruptions.","timestamp":1773030918,"category":"business","headline":"Aluminum rises to 2022 high as Iran-Israel war stokes supply crunch","modifiedHeadline":"Aluminium rises to 2022 high amid Iran-Israel war","subCategories":["scid_35b4c0c1"],"subcategoriesName":["Industry"],"region":"IN","bundleMetaData":{"bundleId":"c80449a0-0ad6-472b-8d17-5747dd8f5c83","bundleTitle":"Around the globe","cardData":null},"iabCategoryId":"81","fcSummary":"aluminum prices surged to a near four-year high, reaching $3,499.50 a ton, due to escalating tensions in the middle east disrupting supply from the region, which accounts for about 9% of global aluminum. concerns over prolonged conflict and its impact on the global economy prompted investors to seek safe-haven assets, causing copper and other industrial metals to decline. crude oil prices also spiked significantly.","summary":"Aluminium hits 2022 high amid Iran-Israel conflict, sparking supply fears & market volatility. Prices surged as shipments face disruption.","ctaUrl":"https://trends.glance.com/newz/Economy/IN/en/cnbc-tv18/f-e550251d2f-917d35a5-1878-51a3-aa2b-3c8fd3b511ef","sourceUrl":"https://www.cnbctv18.com/market/aluminum-rises-to-2022-high-as-iran-israel-us-war-stokes-supply-crunch-ws-l-19864419.htm","bannerImage":"https://g-mob.glance-cdn.com/public/fc/image/1ltGFZo9kRT0.webp","content":"Aluminum rose to the highest in almost four years as escalating hostilities in the Middle East worsened the supply outlook from the region, while copper and other industrial metals fell on falling risk appetite.\n\n
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\n Aluminum rose as much has 1.6% to $3,499.50 a ton, the highest since April 2022, on the London Metal Exchange, following a gain of almost 10% last week as the war snarled shipments from the Persian Gulf. The region accounts for about 9% of global supply, and traders are bracing for more disruptions.\n
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\n Buyers of the metal in the US are rushing to secure alternative cargoes from Asia after at least two major smelters in the Middle East — one in Qatar and one in Bahrain — were forced to suspend deliveries.\n\n
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\n Crude oil spiked about 20% on Monday as the war curbed more production, reflecting deepening worries around the duration of the war and its impact on the global economy. Broader financial markets tumbled on Monday as investors avoided risk assets.\n
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\n A “prolonged war will hurt aluminum supplies further,” said Gao Yin, an analyst at Shuohe Asset Management Co. Many people are buying aluminum and selling other industrial metals in the near term, she added.\n
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\n On Sunday, Iran pressed attacks on neighbors, while Israel struck fuel depots in Tehran and threatened the Islamic Republic’s power grid. President Donald Trump warned the US would consider targeting areas that weren’t previously aimed at. The attacks will continue “until they surrender or, more likely, completely collapse!” he said in a social media post.\n\n
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","readDurationInMinutes":"3","author":{"name":"CNBC TV18","logo":"https://glance-mob.glance-cdn.com/public/bubble/jpeg/ecc3d19b-fc52-4a39-881c-5b0936ae723b.jpeg"},"ism":false,"analyticsResponses":[{"measurementId":"383191425","type":"COMSCORE"}],"pointerSummary":["Aluminum prices surged to a near four-year high amid escalating Middle East hostilities, impacting supply.","Prices rose 1.6% to $3,499.50/ton on the LME, with the region supplying 9% of global aluminum.","Investors are avoiding risk assets; analysts predict further aluminum supply disruption due to the conflict."],"tags":["AluminumPrices","MiddleEastConflict","SupplyChainDisruption","LondonMetalExchange","IndustrialMetals","CrudeOil","GlobalEconomy","IranIsraelWar","PersianGulf","Qatar","Bahrain","DonaldTrump","Geopolitics"],"redirectionEnabled":false,"consent":true}

Aluminum rises to 2022 high as Iran-Israel war stokes supply crunch

SUMMARY