Aluminum headed for its biggest monthly gain in almost eight years, as the war in the Middle East disrupted supplies and damaged local production facilities, tightening the global market. The lightweight metal exceeded $3,500 a ton in London, putting it on course for a monthly gain of more than 12%. That’s the most since April 2018, and contrasts with a broader downtrend for metals in March. Commo...
Aluminum headed for its biggest monthly gain in almost eight years, as the war in the Middle East disrupted supplies and damaged local production facilities, tightening the global market. The lightweight metal exceeded $3,500 a ton in London, putting it on course for a monthly gain of more than 12%. That’s the most since April 2018, and contrasts with a broader downtrend for metals in March. Commodities including base metals have been roiled by the conflict between the US, Israel and Iran. Around a 10th of aluminum’s global production is concentrated in the Persian Gulf, with exports curtailed by the closure of the Strait of Hormuz. In addition, Iranian drones and missiles have struck plants run by Aluminium Bahrain BSC and Emirates Global Aluminium PJSC . While both companies have yet to clarify the precise damage to their facilities, uncertainty remains about the impact on supply-demand balances. Output from EGA’s Al-Taweelah plant, with a capacity of 1.6 million tons a year, can be “written off” for the long term, analyst Bernard Dahdah at Natixis SA wrote in a note. That could flip the market from a supply surplus of 200,000 tons to a deficit of about 1.3 million tons next year, he said. Dahdah’s assessment is based on the assumption that if the plant has suffered “significant” damage, it’s likely that it was forced into an uncontrolled shutdown, he said by phone. That would lead to the solidification of metal in the smelting circuit, which would cause lasting damage that would take at least a year to repair. Iran’s Attacks on Gulf Aluminum Plants Threaten Supply Crisis Most other metals were flat to slightly higher on Tuesday after the Wall Street Journal reported that US President Donald Trump told aides he’s willing to end the US campaign even if the Strait of Hormuz remained largely closed. Still, copper, zinc and nickel are heading for monthly declines as the war lifts energy costs and prompts warnings about global economic growth. The hostilities in the Mi...
In this article BRK.B BRK.A Follow your favorite stocks CREATE FREE ACCOUNT watch now VIDEO 7:25 07:25 Warren Buffett says he’s still making calls on investments at Berkshire, flags ‘tiny’ new buy Squawk Box Warren Buffett said he remains closely involved in investment decisions at Berkshire Hathaway even after stepping down as chief executive, adding that he recently made a "tiny" new purchase. T...
In this article BRK.B BRK.A Follow your favorite stocks CREATE FREE ACCOUNT watch now VIDEO 7:25 07:25 Warren Buffett says he’s still making calls on investments at Berkshire, flags ‘tiny’ new buy Squawk Box Warren Buffett said he remains closely involved in investment decisions at Berkshire Hathaway even after stepping down as chief executive, adding that he recently made a "tiny" new purchase. The 95-year-old investor said he still comes into the office daily and stays engaged with markets, working alongside colleagues on trades. Buffett described a routine that includes calling Mark Millard, Berkshire's director of financial assets, before the opening bell to discuss market developments. Millard, whose office sits about 20 feet away, executes trades based on those conversations, Buffett said, underscoring that he remains hands-on despite handing over the CEO role to Greg Abel in the beginning of 2026. "I won't make any [investments] that Greg thinks are wrong. ... Greg gets the sheet every day," Buffett said on " Squawk Box " Tuesday, referring to the firm's regular investment updates. Asked whether he has made any new investments, he replied that he recently made "one tiny purchase," without elaborating. Buffett also downplayed recent market volatility, suggesting current conditions fall far short of past periods that created major buying opportunities. "Three times since I took over, for sure it's gone down more than 50%. ... This is nothing to make you get excited," Buffett said. The "Oracle of Omaha" also revealed that Berkshire purchased $17 billion worth of Treasury bills this week at the weekly auction. Berkshire reported more than $370 billion in cash equivalents on the books at year-end, largely held in Treasury bills. This is breaking news. Please check back for updates. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
Investing.com -- Citi cut its price target for Micron Technology on Tuesday, citing weakening spot prices in the DRAM market after a sharp pullback in mainstream products.
Investing.com -- Citi cut its price target for Micron Technology on Tuesday, citing weakening spot prices in the DRAM market after a sharp pullback in mainstream products.