European aluminum billet premium doubles after Iran war disrupts supply, squeezes consumers
Geopolitics · Kitco ·
The premium in Europe for aluminum billet, a semi-finished product, has doubled since the Iran war started due to shortages stemming from two months of disrupted Middle East supply. Exports from the Gulf region, a key supplier of primary aluminum, billet and other alloys to Europe, have been curbed after the conflict largely suspended shipping through the Strait of Hormuz, squeezing consumers in construction and transport.