Aluminum advances to four-year high on tighter global market

Aluminium rose for a fourth day to hit its highest since 2022, extending this year’s powerful gain as US President Donald Trump struggles to keep peace talks with Iran on track.

The metal rallied as much as 1.6% in early trading to hit $3,775 a ton in London. Iran said it was suspending negotiations because of Israeli actions in Lebanon, threatening to complicate Trump’s push for a ceasefire extension and reopening of the Strait of Hormuz.

War in the Middle East has helped aluminum to a 25% gain this year after smelters in the region — a major production hub — were forced to close or reduce operations. At the same time, investors are piling into industrial metals, including copper and aluminum, on optimism over demand.

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In the latest sign of tightening conditions, cash aluminium contracts on Monday traded at the biggest premium over three-month futures since 2007, reaching as high as $111.75 a ton. That gap points to a growing call on near-term supply.

Aluminium was up 1% to $3 755 a ton on the London Metal Exchange by 10:30 a.m. Shanghai time. Copper added to its recent surge, rising 0.5% to $13,899.50 a ton.

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