Aluminum Jumps as Iran Conflict Puts Middle East Supply at Risk [Yahoo! Finance]
HONG KONG EX&CL UNSP/ADR (HKXCY)
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Source: Yahoo! Finance
Bloomberg (Bloomberg) -- Aluminum rallied more than 3% on concerns that a critical supply route for Middle Eastern producers will be disrupted by conflict in a region responsible for a significant chunk of global output. The metal advanced as much as 3.6% to the highest since January on the London Metal Exchange. The Strait of Hormuz — a trade chokepoint off the coast of Iran — is used by many of the area's major aluminum producers to ship out metal and bring in raw materials. Most Read from Bloomberg Minneapolis Braces for Rent Crisis As ICE Surge Winds Down It's a Tough Time To Be a Black Real Estate Developer New Tax Proposal Takes Aim at Thailand's Salty Food Obsession Alberta's Deficit To More Than Double, Hit by Oil Price Drop Conflict in the Middle East spread over the weekend after the US and Israel attacked Iran, and Tehran retaliated with strikes on multiple countries. The region accounts for about 9% of the world's aluminum production capacity, according to
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