[Aluminium Outperforms Copper on Energy Cost Concerns Amid US-Iran Tensions]

Published: Jun 24, 2025 00:29

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On Monday, aluminium prices surged more than copper on both the London and Shanghai exchanges, mainly due to rising energy costs following US strikes on Iranian military sites. The LME three-month aluminium contract jumped as much as 3.3% to $2,634.5 per ton before settling up 1.22%. SHFE aluminium also rose 0.54%. In contrast, copper showed smaller gains. Analysts noted aluminium’s higher sensitivity to energy prices, especially with risks around the Strait of Hormuz, a key route for bauxite and alumina shipments. Power makes up about 40% of aluminium smelting costs. Tensions in the Middle East also pushed up Brent crude oil prices by 2.44%. Other metals saw smaller price changes.

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