Aluminum Prices Rise for 7th Day, Hitting 7-Week High at $3,337

Renewed geopolitical tensions in the Middle East have pushed aluminum prices higher for a seventh consecutive day. The commodity reached $3,337 per ton, its highest level in seven weeks. Weakening expectations for peace in the region and mutual compensation demands between the US and Iran have heightened supply security concerns in the market. Analysts note that the risk to trade routes through the Strait of Hormuz strengthens the possibility of disruptions to aluminum supply. This has emerged as a key factor driving commodity prices in global markets. Investors are closely monitoring geopolitical developments, as well as inventory data and demand signals. The seven-day rally has increased optimism about aluminum's short-term outlook. However, market participants are focused on diplomatic developments in the region to gauge the sustainability of price movements. Any easing of tensions could trigger a rapid pullback in prices. Experts indicate that the current price level is approaching technical resistance points, and if these levels are breached, new records could be on the horizon. However, they also note that slowing global economic growth, alongside geopolitical risks, could exert pressure on demand. This is not investment advice.