[Chart] Aluminum Hits 19-Year High Premium Amid Iran War Supply Crunch
Aluminum prices reached a high of $3,654.02 on May 1, 2026, up 1.66% from a month earlier.
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Issue 01The U.S. military said it carried out strikes on Iranian air defense, ground-control and surveillance radar sites near the Strait of Hormuz after a U.S. Army Apache went down off Oman. Two crew members were rescued and were in stable condition. Iranian media reported explosions in Qeshm, Sirik, Bandar Abbas and near Jask.
Aluminum prices reached a high of $3,654.02 on May 1, 2026, up 1.66% from a month earlier.
French President Emmanuel Macron is set to chair a Thursday video conference on global economic imbalances involving G7 members, China and the International Monetary Fund. Other countries invited to the G7 summit, including Brazil, South Korea, India, Kenya and Egypt, are also expected to take part.
WTI oil posted an unusually sharp one-day gain of 5.3% on June 1, 2026, rising to $95.96 from $91.16 two days earlier.
The World Bank said Cambodia’s economy remained resilient, with foreign direct investment reaching $5.1 billion, or 10.1% of GDP, in 2025, up 15% from a year earlier. Goods exports excluding gold increased 17.7% year on year in the first quarter of 2026, according to its June update.
US producer prices for final demand jumped unusually sharply in April 2026, rising 1.38% from March.
Brazil’s Senate Constitution and Justice Committee approved a proposal expanding the central bank’s financial and administrative autonomy, including exclusive authority over Pix regulation and limits on transferring the payments system to another entity. Trade groups for banks, fintechs and payment companies publicly supported stronger central bank supervisory authority.
US CPI saw an unusually sharp monthly increase in April 2026, rising 0.64% from March.
Copper reached $13,483.75 on May 1, 2026, its highest level since January 1992.
The U.S. military said it carried out strikes on Iranian air defense, ground-control and surveillance radar sites near the Strait of Hormuz after a U.S. Army Apache went down off Oman. Two crew members were rescued and were in stable condition. Iranian media reported explosions in Qeshm, Sirik, Bandar Abbas and near Jask.
Iran said U.S. strikes hit two water reservoirs in the Sirik area of southern Iran, disrupting drinking water supplies for about 20,000 residents, including villages in the Bamani district. Local authorities were assessing damage to the water infrastructure, according to reports citing Iranian officials and state media.
U.S. average retail prices for 100% ground beef reached $6.899 per pound in May, according to BLS data. USDA said a new New World screwworm case was confirmed in a calf in La Salle County, Texas, bringing the reported total in the state to six, while cattle futures ended lower Monday.
The European Central Bank halted new product launches by Revolut’s European arm across the European Economic Area last summer, according to notifications made in July 2025. The bank also required an independent review and asked Revolut’s board to examine how future launches could affect capital, liquidity and internal approvals.
Ares Management said it raised $8.5 billion from institutional investors for its latest specialty credit fund, exceeding its $6.5 billion target and hitting the fund's hard cap less than six months after its January 2026 launch. The fundraising was disclosed amid slower flows from retail and wealthy clients and higher redemption requests.
The Bank of Canada left its overnight rate unchanged at 2.25%, saying weaker economic activity and higher inflation complicate policy decisions. Officials said inflation is expected to be near 3% in coming months, broad-based price pressures from energy remain limited, and growth is projected to resume in the second quarter while economic slack persists.
International Criminal Court chief prosecutor Karim Khan has been suspended after the court’s governing body referred him for disciplinary proceedings following an investigation into allegations of sexual harassment or misconduct involving an aide. Khan has denied wrongdoing. The Assembly of States Parties is set to hold a special session and vote on whether he can remain in office.
Germany and France have agreed to end their joint next-generation fighter program, which paired a core aircraft with drones and a classified combat-cloud network after months of uncertainty. Berlin and Paris are now focusing on a combat cloud linking aircraft, drones and sensors and may pursue separate national designs, prompting Airbus to seek new partners.