11:43 - 2.03.2026

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March 2, Fineko/abc.az. The cost of aluminum is rising amid concerns that critical supply routes for Middle Eastern producers will be disrupted by conflict in the region, which accounts for a significant portion of global metal production, ABC.AZ reports, referring to Bloomberg.

The Strait of Hormuz, a trading hub off the coast of Iran, is used by many large aluminum producers in the region to ship metal and import raw materials. The region accounts for about 9% of the world's aluminum production capacity, and prices are usually sensitive to spikes in regional tensions.

To date, the price of aluminum futures has increased by 2.74%, and is traded at $3,227.5 per ton.

At the same time, gold is also getting more expensive. Thus, the price of gold futures is also growing by 2.74%, up to $5,391 per troy ounce.