Aluminum Hovers Near 4-Year Highs in Commodity News 02/04/2026 Aluminum futures in the UK slipped toward $3,500 per tonne but remained near their highest level in over four years, amid fears of a more supply squeeze after President Trump provided no clear timeline on when the Iran war could end. Trump said the US is “nearing completion” in achieving strategic objectives in Iran but warned of severe military action against the country over the next two to three weeks. Additionally, Emirates Global Aluminium, the region’s top producer, halted operations at its Al Taweelah smelter after it was hit by Iranian missiles. The conflict has driven aluminum prices up over 10% in March, the biggest monthly gain in nearly two years. The Gulf is a key source of primary metal, nearly all of which is exported, but shipments are now constrained due to the closure of the Strait of Hormuz. Signs of tightness in the physical market are also emerging, with LME warehouse inventories falling to 418,675 tonnes as of March 27, the lowest level since July 2025. Source: Trading Economics 2026-04-02 hellenicshippingnews... window.___gcfg = {lang: 'en-US'}; (function(w, d, s) { function go(){ var js, fjs = d.getElementsByTagName(s)[0], load = function(url, id) { if (d.getElementById(id)) {return;} js = d.createElement(s); js.src = url; js.id = id; fjs.parentNode.insertBefore(js, fjs); }; load('//connect.facebook.net/en/all.js#xfbml=1', 'fbjssdk'); load('https://apis.google.com/js/plusone.js', 'gplus1js'); load('//platform.twitter.com/widgets.js', 'tweetjs'); } if (w.addEventListener) { w.addEventListener("load", go, false); } else if (w.attachEvent) { w.attachEvent("onload",go); } }(window, document, 'script')); tweet Share