Aluminum futures in the UK fell to below $3,600 per tonne, pulling back from a more than four-year high, as expectations of increased exports from China, the world’s largest aluminum producer, helped ease concerns over ongoing disruptions in the Persian Gulf.

Chinese firms have signaled their readiness to step in with alternative supplies for overseas customers, as the war in the Middle East has constrained shipments from a region that accounts for roughly 9% of global output.

Exports from the region have been significantly affected following the closure of the Strait of Hormuz in late February.

The situation worsened after Iranian attacks hit two major regional smelters, with Emirates Global Aluminium, the region’s biggest producer, halting operations at its Al Taweelah plant.
Source: Trading Economics