Aluminium prices near four-year highs after Gulf attacks
Aluminium prices rose 6 percent following Iranian strikes on major smelters in Bahrain and the Gulf. Regional producers face significant shipping disruptions.
Aluminium prices on the London Metal Exchange surged on Monday, approaching four-year highs after weekend attacks targeted major production facilities in the Middle East. Benchmark three-month aluminium jumped 6% to reach $3,492 per metric ton, its highest level since early 2022. The price rally follows reports of significant damage to smelters operated by the region's largest producers. Iran launched missile and drone strikes on Saturday, hitting key industrial sites. Aluminium Bahrain, which operates one of the world’s largest single-site smelters in Bahrain, confirmed it is currently evaluating the impact on its operations.
Aluminium Bahrain is assessing the damage following strikes on the facility that resulted in injuries to two employees.
