Aluminum Market Descends Into Supply 'Black Hole'
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Aluminum prices on the London Metal Exchange are rising, nearing $3,621 a ton due to a supply shock linked to the U.S.-Iran conflict. Emirates Global Aluminum declared force majeure after attacks on its smelter, impacting 4% of global production. Analysts warn of a serious supply outage, with prices potentially reaching $4,000 a ton. The situation could affect countries reliant on Gulf aluminum shipments, allowing suppliers from China and Russia to gain market share.
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