Aluminum prices hit multiyear highs amid U.S.-Iran war, pressuring costs for Ford, Molson Coors, and others.

Aluminum prices have surged over 13% since the U.S.-Iran conflict began, reaching their highest levels since 2022. This spike is driven by supply disruptions from the shutdown of the Strait of Hormuz and damage to Middle East facilities, cutting about 10% of global supply. Companies like Ford and Molson Coors are facing increased costs, with Ford expecting commodity headwinds to exceed $2 billion due to aluminum price hikes. Wall Street analysts predict limited supply growth in 2026, suggesting continued price pressure ahead.