aluminum News Updates

Industrial metals have been whipsawed since the Middle East war erupted at the end of February. They were initially hit by fears of soaring energy costs.

The lightweight metal rose as much as 2.3% on the London Metal Exchange, reigniting a rally driven by supply shortages due to the Middle East war.

Rio Tinto and Century Aluminum raised the premium on aluminum blocks known as billets by about 3 cents a pound, or $110 a ton, above prewar levels.

A senior official cast the changes as necessary to simplify the policy and provide more fairness to businesses grappling with President Trump’s tariffs.

Aluminum registered its best month in nearly two years as the war in Iran disrupted supplies and damaged local production facilities, tightening the global market.

The Middle East accounts for about 9% of global output of aluminum, used in airplanes, food packaging and solar panels.

European Union officials believe the U.S. will soon streamline its broad tariffs on products containing steel and aluminum, a topic that’s been an irritant in transatlantic relations.

U.S. Trade Representative Jamieson Greer signaled that the Trump administration is open to changing its tariffs on steel and aluminum amid pressure from business groups and trading partners.

The rollback plans were reported earlier by the Financial Times. Aluminum and other metals fell following the report, while shares of U.S. steelmakers and aluminum producers sank.

The blaze is the latest incident at the facility that produces aluminum sheet metal for Ford vehicles including its top-selling F-150 pickup. A fire in September shuttered production.