<div id="readability-page-1"><div>Aluminum prices on the London Metal Exchange are climbing into the end of the week, reaching $3,621 a ton and approaching the peak seen during Russia's 2022 invasion of Ukraine. The problem now is that the aluminum market has been thrust into a serious supply shock amid the U.S.-Iran conflict in the Middle East, one that is unlikely to be reversed in the near term.One big problem we highlighted last weekend was that Emirates Global Aluminum (EGA), the Gulf's largest aluminum producer, declared force majeure on part of its contract book after Iranian missile and drone strikes hit its Al Taweelah smelter. Then there is the Hormuz chokepoint and the U.S. blockade of the critical waterway, which has only further throttled vessel traffic.It is important to note that EGA accounts for 4% of the world's aluminum production. The broader Middle East accounts for about 9% of global aluminum production.JPMorgan analysts have warned that the industry is descending into a black hole, or a &#34;metaphorical point of no return,&#34; where the &#34;global aluminum market will face a serious and prolonged supply outage,&#34; even if vessel flows through the Hormuz chokepoint resume in the near term.The analysts warned clients earlier this week that the market has now entered that dangerous void, and LME prices could soon reach $4,000 a ton as the largest supply deficit in more than 25 years quickly emerges.<img width="500" height="278" src="https://imageproxy.pbkrs.com/https://www.zerohedge.com/_next/image/query-cT03NSZ1cmw9aHR0cHM6Ly9hc3NldHMuemVyb2hlZGdlLmNvbS9zM2ZzLXB1YmxpYy9pbmxpbmUtaW1hZ2VzL1NuYWdfNWU0YjVkNmQucG5nJnc9MTkyMA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://www.zerohedge.com/_next/image/query-cT03NSZ1cmw9aHR0cHM6Ly9hc3NldHMuemVyb2hlZGdlLmNvbS9zM2ZzLXB1YmxpYy9pbmxpbmUtaW1hZ2VzL1NuYWdfNWU0YjVkNmQucG5nJnc9MTkyMA"/>Goldman commodity specialist James McGeoch recently warned clients, &#34;Hard to think of a bigger metal supply shock: High degree of expectation this was where it was heading, but the initial reaction was to fade the uncertainty yesterday, that should be replaced by fresh length if history is a guide.&#34;Countries exposed to Gulf aluminum shipments include the U.S., Japan, Turkey, South Korea, Saudi Arabia, the Netherlands, Italy, Greece, and India. Any supply shock could hit Western manufacturers, allowing alternative suppliers in China and Russia to step up.</div></div>

俄铝

中国铝业

伦敦金属交易所的铝价正在上涨，接近每吨 3,621 美元，这一供应冲击与美伊冲突有关。阿联酋全球铝业在其冶炼厂遭到攻击后宣布不可抗力，这影响了全球 4% 的铝生产。分析师警告称，可能会出现严重的供应中断，价格可能达到每吨 4,000 美元。这一情况可能会影响依赖海湾铝材运输的国家，使来自中国和俄罗斯的供应商获得市场份额

Aluminum Market Descends Into Supply 'Black Hole'

ZeroHedge

广发中证稀有金属ETF

国泰中证有色金属ETF

国泰中证有色金属矿业主题ETF

南方中证申万有色金属ETF

华夏中证细分有色金属产业主题ETF

有色龙头ETF

有色金属

有色50

摩根大通

高盛

JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

JPMORGAN CHASE & CO. 6%NON CUM DEP SHS REP 1/400TH PFD SER EE

JPMORGAN CHASE & CO. DEP REP 1/400TH (5.75% NON CUM PFD DD)

JPMORGAN CHASE & CO. 4.625% DEP SH RE 1/400TH INT NO CU PF LL

JPMorgan Chase & Co.

JPMORGAN CHASE & CO. 4.55% DEP SHS REPSTG 1/400TH PFD SER JJ

JPMORGAN CHASE & CO. 4.75 DEP SHS REP 1/400 NCUM PFD SR GG

GS Hldg R

铝市场陷入供应 ‘黑洞’