Aluminum Prices at Over 4-Year High

2026-04-16 08:17 By Judith Sib-at 1 min. read

Aluminum futures in the UK climbed above $3,650 per tonne, the highest since March 2022, amid persistent concerns over a supply shortfall.

Wood Mackenzie projects a global deficit of up to 4 million metric tons this year, underscoring a tight market.

Emirates Global Aluminium, the Middle East’s largest producer, has declared force majeure on some deliveries after halting operations at its Al Taweelah smelter due to Iranian strikes.

Alba, the largest single-site aluminum smelter outside China, was also hit, although the extent of the damage remains unclear.

Alba had already reduced output prior to the attack, as had Qatar Aluminium amid power shortages.

The Persian Gulf accounts for about 9% of global supply, serving Europe, Asia, and the US.

Even before the attack, the closure of the Strait of Hormuz had already put significant strain on the region’s access to vital inputs.

Meanwhile, Chinese firms have signalled readiness to step in with alternative supplies for overseas customers.



News Stream
Aluminum Prices at Over 4-Year High
Aluminum futures in the UK climbed above $3,650 per tonne, the highest since March 2022, amid persistent concerns over a supply shortfall. Wood Mackenzie projects a global deficit of up to 4 million metric tons this year, underscoring a tight market. Emirates Global Aluminium, the Middle East’s largest producer, has declared force majeure on some deliveries after halting operations at its Al Taweelah smelter due to Iranian strikes. Alba, the largest single-site aluminum smelter outside China, was also hit, although the extent of the damage remains unclear. Alba had already reduced output prior to the attack, as had Qatar Aluminium amid power shortages. The Persian Gulf accounts for about 9% of global supply, serving Europe, Asia, and the US. Even before the attack, the closure of the Strait of Hormuz had already put significant strain on the region’s access to vital inputs. Meanwhile, Chinese firms have signalled readiness to step in with alternative supplies for overseas customers.
2026-04-16
Aluminum Prices Retreat from 4-Year Highs
Aluminum futures in the UK fell to below $3,600 per tonne, pulling back from a more than four-year high, as expectations of increased exports from China, the world’s largest aluminum producer, helped ease concerns over ongoing disruptions in the Persian Gulf. Chinese firms have signaled their readiness to step in with alternative supplies for overseas customers, as the war in the Middle East has constrained shipments from a region that accounts for roughly 9% of global output. Exports from the region have been significantly affected following the closure of the Strait of Hormuz in late February. The situation worsened after Iranian attacks hit two major regional smelters, with Emirates Global Aluminium, the region’s biggest producer, halting operations at its Al Taweelah plant.
2026-04-15
Aluminum Prices Hit Over 4-Year High
Aluminum futures in the UK climbed to around $3,630 per tonne in April, the highest level since March 2022, amid uncertainty across metal markets following a US blockade of Iranian ports in the Strait of Hormuz. While metals generally face downside risks from expectations of weakening demand, as surging energy prices threaten to slow global economic growth, aluminum has diverged from this trend due to supply disruptions. The Gulf region is a key supplier of primary aluminum, accounting for roughly 9% of global output, but shipments have been severely disrupted by the Strait’s closure in late February. The situation worsened after Iran targeted two regional smelters, with Emirates Global Aluminium, the region’s largest producer, halting operations at its Al Taweelah plant. Stress in the market was clearly reflected in the widening backwardation on the London Metal Exchange.
2026-04-13