Middle East's Largest Aluminum Producer: Abu Dhabi Smelter May Take a Year to Fully Recover Capacity
Wallstreetcn·- The global aluminum market is facing significant supply disruptions due to an attack on Emirates Global Aluminium's Abu Dhabi facility, which may take up to 12 months to fully recover. - The attack has resulted in over a 10% increase in aluminum prices on the London Metal Exchange since the onset of the Iran conflict, compounded by already low global inventory levels. - Additional damage from a similar attack on Aluminium Bahrain's facility adds to concerns about supply, leading to heightened market apprehension regarding future aluminum availability."Middle East's Largest Aluminum Plant" Suffers "Major Losses" on Saturday; Unclear Whether Production Has Halted
Wallstreetcn·- The largest aluminum plant in the Middle East was struck, impacting the global aluminum supply chain. - The Iranian Revolutionary Guard confirmed missile and drone strikes on U.S.-related aluminum facilities in the UAE and Bahrain, exacerbating the already tight global aluminum market. - As a major supplier, the UAE's EGA faces operational disruptions, which could elevate aluminum prices and intensify economic pressures worldwide.With the closure of the Hormuz Strait, the world's largest aluminum plant can no longer hold on
Wallstreetcn·- Aluminium Bahrain BSC (Alba) has begun phased shutdowns of three production lines, affecting 19% of its total capacity due to disrupted shipping in the Strait of Hormuz. - The shutdown aims to ensure operational stability and optimize existing raw material inventory usage amid an ongoing supply chain crisis affecting the entire Middle East aluminum industry. - Alba is exploring alternative supply channels as a proactive measure while managing operational capital and signaling that the production cuts are reversible once the supply chain issues are resolved.