Aluminum Gains as Trump Vows to Maintain Naval Blockade on Iran

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.