Aluminum gained, with traders seeing little prospect of an imminent opening of the Strait of Hormuz that would ease availability of the metal.The lightweight metal rose as much as 1.7% to $3,534 a ton on the London Metal Exchange, paring a weekly loss.
Iran delivered a new proposal to the US and President Donald Trump vowed to maintain a naval blockade, as the two sides pursue behind-the-scenes diplomacy to turn a fragile ceasefire into a lasting peace.The fate of the Strait of Hormuz lies at the heart of the current stalemate.
Both Iran and the US have signaled they are waiting for the other to move first before they agree to ease restrictions on traffic.Prices for aluminum — used in everything from cars to beer cans — recently hit the highest in more than four years, with the....
