LME Reaches Record High Amid Aluminum Supply Concerns Due to Middle East Conflict
The London Metal Exchange (LME) has seen industrial metals reach record highs, driven by significant gains in aluminum and copper. The surge is attributed to supply disruptions caused by the ongoing conflict in the Middle East, particularly affecting aluminum production. The LME Index, which tracks six major metals, has increased by nearly 12% over the past month. Aluminum prices have risen by about 15% since the conflict began, as the Middle East accounts for a significant portion of global output. The situation has been exacerbated by strikes on key smelters in Abu Dhabi and Bahrain, and a blockade of the Strait of Hormuz, impacting shipments. Despite these challenges, there are signs of a potential ceasefire, which has helped stabilize other metal prices. 
