
The ceasefire between the U.S. and Iran is on shaky ground, raising concerns about shipping through the key Strait of Hormuz. As peace talks between the two nations collapsed, President Donald Trump threatened to blockade the Strait, prompting aluminum prices to climb to a four-year high on April 13.
That’s because the Middle East accounts for approximately 9% of global aluminum output, making the Strait of Hormuz extremely important for metal exports, with key producers in Saudi Arabia, the United Arab Emirates and Bahrain.