Summary: Following a dramatic surge to over $3,370/tonne earlier this week due to the closure of the Strait of Hormuz, LME aluminium prices have slightly eased as of March 5–6, settling around $3,298/tonne. While the immediate “risk premium” has softened, analysts from Citi have raised their price targets to $3,600, warning of a potential spike to $4,000 if supply disruptions in the Middle East—responsible for 10% of global output—persist.

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