June 26, 2026 (Bloomberg) – Vitol Group has successfully shipped a significant cargo of aluminum from the Strait of Hormuz, indicating a potential easing of supply woes for buyers affected by shortages since the beginning of the Iran war.
The trading company sent the bulk carrier Lowlands Corso through the southern part of the strait late Friday afternoon, according to shipping data and a source close to the situation. The ship is carrying about 35,000 tons of aluminum from Emirates Global Aluminium PJSC.
The cargo was loaded in Abu Dhabi in late February. Since the outbreak of war, the ship has been anchored in various spots off the western coast of the UAE with its hefty aluminum load valued at around $110 million at current market rates.
A Vitol spokesperson chose not to comment on the matter.
This successful transit could indicate a return to more normal trading conditions in the region as the US and Iran work towards a permanent peace agreement. The aluminum market has been disrupted by halted trade through the strait, prompting buyers worldwide to seek substitute shipments. Smelters are also adjusting their supply chains to transport aluminum through other ports.
In early June, prices surged to a four-year peak, and the return of regional exports will significantly impact market trends over the coming weeks.
Typically, aluminum leaves the Middle East in container shipments, but in recent weeks, smelters have been increasing the volume of metal transported by truck from ports in Oman and Saudi Arabia. The Lowlands Corso is reported to be the first known vessel to transport aluminum in bulk through the strait since the war began, as per the anonymous source.
Meanwhile, higher-than-expected raw material shipments into regional smelters have prevented widespread mill closures that could have led to a crisis in the industry.
However, concerns remain about the stability of trade through Hormuz, especially after an unidentified projectile struck a vessel on Thursday. Some analysts and traders still predict a lingering shortage of global supplies, while others believe that Middle Eastern exports and production may quickly ramp up, aiding in the replenishment of depleted global inventories.
The Lowlands Corso is expected to unload its cargo in New Orleans. US manufacturers are currently facing the highest aluminum prices in the world due to tariffs and local shortages intensified by the ongoing war.