HSBC: Global Commodity Markets Face 'Super Squeeze' as Aluminum Hits 4-Year High

XAL0.64%
XCU1.94%
NG-1.22%
According to HSBC research, global commodity markets are experiencing a 'super squeeze' driven by supply disruptions, with the bank warning that prolonged closure of the Strait of Hormuz could accelerate inventory depletion across key commodities. Aluminum prices have surged to 4-year highs due to Middle East conflict impacts on smelting capacity, while copper prices are approaching $14,000 per ton supported by recovering end-user demand. The report highlights that crude oil, liquefied natural gas, agricultural products, and industrial metals face tightening supply pressures.
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