Aluminum prices remain steady as the market absorbs the impact of Middle Eastern supply disruptions

In early Asian trading, aluminum prices remained stable. Analysts at ANZ Bank stated in a report that ongoing conflicts in the Middle East continue to unsettle the aluminum market, with traders still assessing the impact on supply and demand prospects. As the Strait of Hormuz remains effectively closed to shipping, some producers are reducing operations or suspending exports. Most aluminum smelters hold only a few weeks’ worth of alumina inventory, which could further tighten supply. Meanwhile, despite buyers competing to secure supplies, Chinese inventories are still increasing, suppressing price gains.