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Aluminium retreated on Tuesday, weighed down by profit-taking as U.S. President Donald Trump's pledge of a rapid conclusion to the Middle East war eased supply concerns.
Benchmark three-month aluminium on the London Metal Exchange was down 1.2% to $3,343 per metric ton as of 1030 GMT.
The contract touched its highest since March 2022 at $3,544 on Monday as fears mounted over further shutdowns of Gulf smelters, unable to ship through the Strait of Hormuz.
Trump later on Monday predicted a quick end to the conflict with Iran, while warning he would escalate it if Tehran attempted to block oil shipments.
Aluminium shed as much as 3.5% earlier in Tuesday's session.
"I'm not sure how much everyone appreciates just how hard it is to start an aluminium smelting facility once it's being shut off," said WisdomTree commodity strategist Nitesh Shah. "It takes a bit of time. And this is happening at a time when aluminium markets are already relatively tight."
"I can't see that aluminium prices should be collapsing very quickly," Shah said, adding that a projected "wafer-thin" aluminium surplus for 2026 was now set to be a deficit.
In Asia, where spot aluminium premiums have spiked, there was an order to withdraw 98,150 tons of aluminium from LME warehouses in Port Klang, Malaysia , suggesting traders are looking to cash in on shortages of the metal.
The volume represents 21.7% of all aluminium currently in the LME warehousing system.
Meanwhile, copper rose 1.2% to $13,103.50 a ton. "Any sign of easing of tension could drive a little bit more optimism around cyclical conditions. And that's why I'd say copper is getting a lift today," Shah said.
China's copper imports fell 16.1% in the first two months of the year.
Zinc was the biggest gainer, climbing 1.3% to $3,370 due to rising power prices, while nickel firmed 0.2% to $17,515, lead added 0.1% to $1,938.50 and tin shed 0.8% to $50,030.
(Reporting by Tom Daly; additional reporting by Amy Lv and Lewis Jackson; Editing by Sumana Nandy, Rashmi Aich and Janane Venkatraman)





















