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METALS-Aluminium falls as supply pressures ease; Mideast war underpins weekly gains
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METALS-Aluminium falls as supply pressures ease; Mideast war underpins weekly gains
Mar 13, 2026 1:46 AM

(Recasts, updates prices as of Asian market close)

SHANGHAI/BEIJING March 13 (Reuters) - Aluminium slid on

Friday as supply concerns eased and the dollar firmed, with

elevated energy prices dimming prospects of U.S. rate cuts,

although persistent shipping disruptions via the Strait of

Hormuz kept prices on track for weekly gains.

The most-active aluminium contract on the Shanghai Futures

Exchange closed daytime trade down 1.4% at 24,960 yuan

($3,623.06) a metric ton. It still rose nearly 1% week-on-week.

The benchmark three-month aluminium contract on the London

Metal Exchange was down 1.01% at $3,481 a ton by 0746

GMT, butwas set to end the week up by 1.4%.

Supply fears eased after Norsk Hydro ( NHYKF ) said on

Thursday that its Qatalum aluminium smelter in Qatar halted a

curtailment announced last week and would keep production at

around 60% of its capacity.

However, the Middle East war has effectively choked

shipments through the Strait of Hormuz, fuelling supply concerns

and powering prices of the light metal used in transport,

construction and packaging. The region accounts for around 9% of

the world's aluminium output.

Price gains were capped by a stronger dollar as

surging energy prices fanned inflation concerns and dented bets

of U.S. rate cuts.

A strengthening dollar weighs on greenback-denominated

commodities, making them less affordable for investors using

other currencies.

Additionally, commodities trader IXM is weighing a restart

of its aluminium trading business this year, coinciding with

some forecasts of a supply deficit of the metal. The Iran war

has worsened the aluminium deficit, heightening its trading

appeal.

Among other SHFE metals, copper dropped 0.55%, zinc

shed 0.6%, lead declined 0.45%, tin

tumbled 4.14% and nickel lost 0.9%.

In LME metals, copper lost 1.01%, lead

dropped 0.36%, nickel slipped 1.45%, tin

declined 2.91% and zinc shed 0.3%.

($1 = 6.8892 Chinese yuan)

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