Two Middle Eastern aluminium companies attacked, Citi analysts: Aluminium prices may soar to $4,000 per ton

The Middle East is an important supplier of aluminum, accounting for about 8% to 9% of global aluminum production. The conflict has led to a significant reduction in local production capacity. In addition, the disruption of shipping in the Strait of Hormuz has blocked both the import of raw materials and the export of finished products. According to reports, the London Metal Exchange's three-month aluminum price has risen by about 10% since the beginning of this year. Citi analysts previously predicted that if the supply situation worsens, the aluminum price could rise to 4,000 US dollars per ton, much higher than the current level of about 3,300 US dollars per ton. (CCTV Finance)