【Ferro-alloys.com】：Aluminum slumped to the lowest in more than two months as an interim agreement between the US and Iran laid the groundwork for the resumption of metal shipments through the Strait of Hormuz.

Prices for the lightweight metal dropped 4.4% to settle at $3,379.50 a metric ton on the London Metal Exchange, the lowest since March 27. The two sides agreed to a deal, with the strait to reopen when the agreement is expected to be signed on Friday. Details of the plan are still being negotiated.

The Iran war caused steep supply losses as Middle Eastern aluminum smelters were targeted in missile attacks and the closure of the vital waterway choked off supplies of incoming raw materials and outbound metal. Producers responded with logistical workarounds to keep plants running, but the war still left the industry contending with a major supply deficit.

• [Editor:Alakay]