Egypt Aluminium is trading at $329.98, up 8.90%, amid Middle Eastern supply concerns.
- Aluminium extended its seventh consecutive daily advance and reached a seven-week high.
- Reuters reported that Gulf shipment disruptions and stalled U.S.-Iran negotiations over reopening the Strait of Hormuz tightened supply expectations; Gulf producers represent approximately 9% of global aluminium capacity.
- LME inventories fell to exceptionally low levels, supporting aluminium prices, while Norsk Hydro reduced Brazilian alumina output. The move appears sector-driven rather than company-specific.