Aluminum Falls More Than 8% on LME, Biggest Drop Since 2018

Aluminum plunged by the most since 2018 on the London Metal Exchange as growing worries about the global economic impact of the war in Iran fueled broad losses across industrial metals markets.

Prices dropped as much as 8.4% to $3,115 a ton, rapidly eroding gains seen since the start of the Iran conflict that had been fueled by risks to regional aluminum supplies. The plunge came during a broad selloff in industrial metals and broader markets, with copper plunging more than 4%, gold dropping more than 5% and global equity markets trading sharply lower.