Aluminum Hits Four-Year High Amid Middle East Tensions

Aluminum prices surged to their highest level in nearly four years as escalating conflict in the Middle East worsened supply concerns. Meanwhile, copper and other industrial metals retreated amid falling risk appetite.

On the London Metal Exchange, aluminum rose as much as 1.6% to $3,499.50 a ton, the highest since April 2022, after gaining nearly 10% last week. The increase was driven by disruptions to shipments from the Persian Gulf, which accounts for roughly 9% of global aluminum supply. Traders are preparing for further supply interruptions as hostilities intensify.

US Buyers Seek Alternatives

U.S. buyers are scrambling to secure alternative shipments from Asia after at least two major Middle Eastern smelters, one in Qatar and another in Bahrain, suspended deliveries. The move has added pressure to global supply chains and prompted urgency among industrial users.

Also Read: Dubai Gold Rate: What Is the Price of 22K and 24K Gold in Dubai Today, March 9, 2026?

Oil Prices Surge as Production Falls

Crude oil spiked about 20% on Monday, reflecting concerns that the conflict is curbing production. Investors worry about the war’s duration and potential effects on the global economy. Broader financial markets fell as traders avoided riskier assets.

The situation deteriorated further on Sunday, with Iran intensifying attacks on neighboring countries while Israel targeted fuel depots in Tehran and threatened the nation’s power grid. Former President Donald Trump warned the U.S. might target areas previously untouched, stating on social media that attacks would continue “until they surrender or, more likely, completely collapse.”

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