Aluminum Jumps the Most in Three Weeks as US-Iran Truce Holds

Aluminum jumped the most in three weeks, leading other base metals higher, with signs of a US-Iran truce still holding and easing market fears of a full-blown war dragging down global economic growth.

The lightweight metal rose 1.9% in the biggest daily increase since April 13, as US stocks and other risk assets advanced Tuesday. The US played down the prospect of a return to active war with Iran after a day of clashes involving ships in the Strait of Hormuz and missile strikes against the United Arab Emirates.