LME Aluminium Falls Below $3,000 on Temporary Gulf Supply Disruptions – ING

LME aluminium prices declined toward the $3,000 per tonne level as the market unwound the geopolitical risk premium built in from earlier Middle East tensions. The pullback follows comments from ING analysts Warren Patterson and Ewa Manthey, who characterized the recent Gulf supply disruptions as temporary.

The analysts' assessment suggests the market had overreacted to supply concerns, and that normal conditions should return quickly. This recalibration of risk has weighed on prices, which had previously spiked on fears of prolonged disruptions.