The Iran war triggered one of the biggest shocks to the global aluminum market, raising fears of widespread smelter shutdowns and prices surging above $4,000 a tonne. However, a strong supply response from the Middle East, China and Indonesia helped prevent a full-blown crisis.

Aluminium prices are expected to remain high in the short term due to ongoing Middle East disruptions, which are now projected to extend into 2027. However, a significant increase…

Even if the Strait of Hormuz reopens under the announced interim deal, smelters cannot immediately return to full capacity as damaged potlines need repairs and curtailed capacity…