Summary: Aluminium prices on the London Metal Exchange (LME) jumped 6% this morning, reaching levels not seen since early 2022. The surge is a direct response to Iranian drone and missile strikes on two of the world’s largest production sites: Emirates Global Aluminium (EGA) in Abu Dhabi and Aluminium Bahrain (Alba). These facilities account for roughly 9% of global primary supply. While damage assessments are ongoing, the effective closure of the Strait of Hormuz is further strangling the flow of metal to international markets.

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