CHART: Copper price, aluminum 'black hole' fears lift LME base metals index to record high
Geopolitics · Mining.com ·
The London Metal Exchange's base metals index hit an all-time high, driven primarily by aluminum surging over 15% since the Iran war began disrupting Middle Eastern supplies. Copper has also rallied sharply, with both metals representing nearly three-quarters of the index. JPMorgan warned the aluminum sector faces a "black hole" of prolonged supply deficits following Iranian strikes on key smelters and blockades of the Strait of Hormuz.