Summary: Prices on the LME have surged to historic levels this week due to intensifying supply concerns in the Middle East, a region responsible for roughly 9% of global output. With the closure of the Strait of Hormuz and damage to key smelting facilities like the Al Taweelah plant, analysts are warning of a significant global deficit. While prices saw a slight technical pullback to $3,557/T on late Friday, the market remains on high alert for further disruptions.
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