Middle East situation affects non-ferrous metals, aluminum prices skyrocket and then fluctuate at high levels.

Due to ongoing transportation disruptions in the Strait of Hormuz, the major aluminum producer in the Middle East, Aluminium Bahrain B.S.C. (Alba), announced on the 15th that it has initiated a controlled and safe shutdown process for three aluminum smelting production lines. Recently, international aluminum prices have quickly risen to near four-year highs due to tensions in the Middle East, and then fluctuated in the high range. On the 16th, the three-month aluminum price on the London Metal Exchange reached a high of $3,494.50 per ton during trading, and as of 7:30 pm Beijing time tonight, it was at $3,387.50 per ton, a decrease of 1.51%. According to the International Aluminium Institute, the aluminum production in the Middle East accounted for about 9% of the global production last year, and manufacturers rely on the Strait of Hormuz for importing raw materials and exporting finished products. The blockage of this vital passage may lead to shortages for manufacturers in Europe, Asia, and the United States.