The overlooked metals crisis behind the Hormuz oil headlines

While diplomatic efforts spark volatile speculation over when the Strait of Hormuz might actually reopen, the structural shock to the energy transition's core metals is already deeply embedded. The physical recovery of impaired Gulf aluminium smelters and disrupted copper refining chains is a prolonged process, detached from temporary shipping breakthroughs. The tension between these slow-motion industrial realities and aggressive clean-energy targets could fundamentally rewrite project economics in upcoming procurement rounds.