London Metal Exchange metals hit a record high, propelled by a 15% jump in aluminum prices following the Iran war, and a rebound in copper. The LME Index climbed nearly 12% over four weeks, closing at its all‑time peak on Thursday.

Aluminum now accounts for about 9% of global output, a share that has grown as Middle East supplies tighten. Investors in industrial metals see the price rally as a sign of supply strain and potential cost pressures for downstream manufacturers.

The surge cements aluminum’s role as a bellwether for commodity markets. With the LME Index at an unprecedented level, traders and corporates must adjust hedging strategies and budget forecasts for materials costs.