London: Aluminum prices extended their decline on Thursday to hit their lowest level in more than four months, weighed down by fading investor risk appetite and signs of a faster-than-expected recovery in supplies following the end of the war between the United States and Iran. Benchmark three-month aluminum on the London Metal Exchange (LME) fell 0.8% to $3,053 per metric ton, marking its fourth consecutive session of losses. Prices had earlier touched $3,040 per ton, the lowest level since Feb. 19.
According to Jordan News Agency, LME aluminum has shed approximately 20% of its value over the past month as the United States and Iran moved toward ending the conflict. Similarly, the most-traded aluminum contract on the Shanghai Futures Exchange dropped 0.4% to 22,400 yuan per ton.