Base metals fell, influenced by optimistic sentiments in the Strait of Hormuz and the strength of the US dollar.

In the early European session, precious metals fell, with three-month aluminum futures dropping 1.3% to $3,050.50 per ton and copper prices falling 0.9% to $13,215.50 per ton. Aluminum prices have plummeted 18% this month as expectations of normalizing supply from Persian Gulf producers were boosted by the reopening of the Strait of Hormuz, easing concerns about supply disruptions in the region, which accounts for over 10% of global production. Copper prices also edged lower as investors' interest in dollar-denominated commodities waned due to the strength of the US dollar. Traders are also awaiting signals from Washington regarding refined copper imports, as any policy changes could have a short-term impact on trade flows and market sentiment.