Aluminum Supply Risk Returns Amid Middle East Tensions

ING Economic and Financial Analysis5.2K FollowersFollow5ShareSavePlay(3min)CommentsSummaryLME aluminium prices jumped 3.5% this morning, a one-month high, with rising Middle East tensions reintroducing supply risks into the market.Escalation in the conflict between the US/Israel and Iran primarily increases upside risks to physical aluminium premiums rather than materially tightening global supply.US Midwest premiums are structurally high due to tariffs, limiting near‑term upside but leaving marginal pricing exposed to Gulf-related disruptions. matejmo/iStock via Getty Images By Ewa Manthey, Commodities Strategist Escalation in the conflict between the US/Israel and Iran primarily increases upside risks to physical aluminium premiums rather than materially tightening global supply.

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