Aluminium resumes ascent, eyes best week in 18 months

Aluminium prices rose again on Friday after snapping a three-day winning streak in the previous session, and were heading for their biggest weekly jump in more than 18 months as supply concerns due to the U.S-Israel war on Iran intensified, reports Reuters.
Benchmark three-month aluminium on the London Metal Exchange was up 1.5 per cent at $3,346.50 per metric ton as of 1050 GMT. The metal widely used in packaging and transport hit a near four-year peak of $3,418 on Wednesday as the Mideast crisis threatened to cut off aluminium shipments from the region.
LME aluminium was on course to gain 6.6 per cent this week, which would mark its biggest weekly jump since August 2024. Qatari smelter Qatalum and Aluminium Bahrain have already declared force majeure on shipments.